Pensions: why do those retiring face ‘massive’ losses despite FTSE highs?

[expressman33]

Interest article https://www.theguardian.com/money/2023/ ... viva-value

[blythburgh]

Oddly this Govt. which is kept in power by the older voter seems not to care about those who have retired or will soon be retiring.

Women were not properly warned about the rise in retirement age for women.

Free TV licences for the 75+ was forced onto the BBC who could not afford it so now only those on pension credit can get a free licence.

If you can claim back capital gains you have made the amount is usually increased annually. But if you are so poor you claim guaranteed pension credit you lose it, and all the benefits the guaranteed version brings, if your savings go over £10,000. It has been that amount since it started though the buying power of that £10,000 has been eroded by inflation over the years. The last year has seen inflation above 10% and food inflation which affects the poorest the most even more. And unless you have a prepaid funeral plan the cost of saying goodbye to a husband or wife has grown enormously over the years. Soon that £10,000 will not cover the two funerals of a couple. And even a prepaid funeral does not cover many things that a funeral involves.