ASP and increased inflation could deter pension saving

It argues “heavy-handed” government pension policy on alternatively secured Pensions (ASP) combined with high inflation and the rising costs of food and heating mean the most vulnerable members of society are being hit with increased financial penalties. Alliance Trust says the latest findings from its research centre on the issue ‘Inflation and Age’ reveal the rate of inflation facing those aged over 75 is continuing at around 40% higher than headline inflation, at a rate of 4.2% compared to the 3% resulting from the Consumer Price Index (CPI). Although pensioners are the hardest hit...