UK Money News
28th July 2008
Pension credit reform to hit poorest hardest
Plans to cut the backdating of unclaimed pension benefit will hit some of the poorest pensioners the hardest, it has been claimed.
Under reforms announced by the Chancellor of the Exchequer Alistair Darling, the limit for claiming backdated pensions credits will be reduced from 12 months to three months.
According to reports, this will cost pensioners around £100 million next year, with those on the lowest incomes set to be most affected.
Gordon Lishman, director of Age Concern, told the Telegraph: "The millions of pounds the Government will save is money that should be in older people's pockets.
"Reducing the amount of backdated pension credit, housing benefit and council tax benefit older people can receive to just three months will penalise some of the poorest pensioners."
The reforms also include cutting the backdating limit for council tax and housing benefit.
These are set to save the Treasury £35 million in 2009 and £70 million in 2010.
back to July's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
