11 December 2012
AUTUMN STATEMENT
The Chancellors spending review brings mixed news for pensioners. Basic state pensione will increase by 2.5%. Pension credit will increase by the same cash amount - not %age - and there will be no increase in personal allowance. So for a pensioner paying basic rate income tax 20% of the increase will immediately be clawed back.
For a fuller analysis click onthis link to read the NPC's statement.
/npa-crewe/documents/general/npc-autumn-statement-briefing-2012.doc
