Debt management needed to care for elderly for many
Debt management needed to care for elderly for many
Thursday 10th December 2009
Help the Aged and Age Concern made the statement following the chancellor of the exchequer's Pre-Budget report which was delivered this week.
Although the chancellor announced that the state pension would rise 2.5 per cent above inflation next year, the charity believes he should have restored the link between pensions and earnings.
They believe that as a result, 70,000 pensioners could fall into poverty unless the link is restored by 2012.
Those who want to enjoy their twilight years but are struggling to make ends meet could benefit from talking to a debt management company to find out about solutions such as debt consolidation loans.
Andrew Harrop, head of public policy at Age Concern and Help the Aged, said: "Many older people will be relieved that the Basic State Pension and Pension Credit will both increase above planned indexation.
"Yet the Government has missed a golden opportunity to promise to restore the link between Basic State Pension and earnings by 2012. Sliding beyond this date will plunge an additional 70,000 pensioners into poverty, saving relatively little for the government - an estimated £250 million a year after 2012."
This week, it was revealed that the cost of heating a home is likely to increase to pay for the introduction of smart meters, according to Consumer Focus, which could particularly impact on senior citizens.
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