We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
State Pensions + Personal Tax Allowance
Comments
-
... 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.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards