State pensioners expected to receive just 38p/day increase in 2013

Experts say increase will not help many pensioners to meet rising basic cost for living...

Experts have warned that Britain’s 13 million pensioners will receive a rise of just 38p a day or £2.69/week next year. The figure was the result of the link between pensions and inflation figure, which in September was at its lowest rate for nearly three years. 

The news is expected to disappoint pensioners especially during this time when their incomes are being severely squeezed. Add to that, UK’s energy giants have recently revealed their plans to increase their prices with the average dual-fuel bill set to jump at £1,300 a year.

Prices for food will also rise that will force older people to make even more drastic cutbacks. 

Dot Gibson, general secretary of the National Pensioners Convention, said: ‘It will only add to the hardship that millions of Britain’s pensioners already face.

‘They have to cope with one of the least adequate State pensions in Europe. It is time we had a pension system that took all older people out of poverty.’