Budget 2012 State Pension and Pensioner Allowances
Published / Last Updated on 14/03/2014
Budget 2012 State Pension and Pensioner Allowances
No Personal Allowance Increase
The Chancellor confirmed that higher personal allowances for pensioners would remain frozen in order for increases in the standard perosnal allowance to catch up.
State Pension - More Misery for Pensioners
He reconfirmed that State Pension will eventually move to a single tier flat pension only of £140 per week, redmoving the State Second Pension. In opinion, the biggest stealth tax we have seen for years.
State Pension Age Later than 68?
In addition, he reconfirmed that changes to the state pension are likely to come with state pension ages being directly linked to average ife expectancy i.e. current proposed state pension ages of 66, 67 and 68 will likely increase in the future.
Budget Summary 2012