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Coalition leaves OAPs worse off

The Government's recent decision to weaken the indexation arrangements for pensions could potentially reduce the retirement income of millions of pensioners.



Over the next five years, according to the Office of Budget Responsibility, the proposal to link pension increases to the Consumer Price Index (CPI), rather than the traditional Retail Price Index (RPI), will mean pensioners will be at least 7.4% worse off.

This is despite the Lib Dem and Conservatives pledging to protect indexation arrangements and consult widely if there were changes.

As a result, both parties have united pensioners, trade unionists, pension trustees, fund managers and financial experts in their determination to protect future incomes in retirement.

JOHN MARTIN

National Pensioners Convention

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