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State Pensions + Personal Tax Allowance
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... definitely agree with my highlightsAlbermarle said:
Key word highlighted in bold, state pensioners have done better than most employees.dealyboy said:Going back to @Blue_Parrot ...
Of course we are all going to be worse off due to inflation (I'm a new state pension OAP).
10.1% increase in pensions but 20% of increase taxed, so only 8% real increase. However our inflation rate is 16% plus, for essentials, so we are losing 8% purchasing power.
People with DC pension pots have seen actual drops in value of 8 to 20%, so taking inflation into account, a real drop in value of around 20 to 30 % . Not a direct comparison I know, but state pensioners and those with public sector pensions, have done better than most, despite the personal allowance tax freeze.
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