Hard-hit pensioners may need debt management
Hard-hit pensioners may need debt management
Wednesday 23rd December 2009
Those who receive the state pension will get an additional £10 this Christmas as a bonus from the government, the same amount which was given when the payment was introduced almost 40 years ago.
Critics say that if the Christmas payment had kept up with inflation since its introduction in 1972, it would now stand at £98.
Back then, the weekly state pension was £6.75 a week, while it now stands at £95.25. However, pensioners now receive the winter fuel allowance, worth as much as £400, which was introduced in 1997.
Last year, the government decided to give pensioners a Christmas bonus of £60 but said that this was a 'one-off' to help older people cope with rising fuel and food prices at the time.
For elderly people who owe money and may find it difficult to make ends meet this Christmas, talking to a debt management company might be a good option to find out more about solutions such as debt consolidation loans.
Steve Webb, the Liberal Democrat spokesperson for work and pensions said: "The measly Christmas bonus is a slap in the face for today's pensioners. What was once a valuable additional benefit is now nothing more than a joke.
"When it was brought in, a pensioner could buy Christmas dinner and still have money left over. It wouldn't even buy you the turkey."
News article brought to you by Debt1 – UK debt management specialists
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