Pre-Budget: Pensions

In yesterdays Pre-Budget speech Brown said that by April 2005, the Government would ensure that the increase in the basic state pension would be in line with the Retail Price Index as of the previous September, or 2.5%. This translates to an increase to £82.05 for single pensioners and £131.20 for couples, with an increase in the guarantee element of pension credit in line with earnings to £109.45 for single pensioners and £167.05 for couples. The Pension Credit savings reward will also move up to a maximum of £16.44 per week for single pensioners, and £21.51 for couples. Brown's spee...