Sunday, 27 January 2013
£9.00 per month pension increase
The loss of interest on savings has really hit Olive. She budgets tightly every month and now there is no interest to speak of on bank accounts she finds it hard to justify any extras. How lovely when she received a letter from the company manging the private pension she receives (as widow from her husband's work) to say there is an increase in the pension. Just over £11 per month, but advising her that after tax it will be £9. Better than nothing, but not keeping up with the increase in cost of living. " You would think when you get to 85 the tax rate would go down" Good idea - to think of all the tax that she and her husband paid. Olive still going with payments to HMRC.