Pension poverty in the UK will be "eliminated by 2010", says chancellor Gordon Brown thanks to the additional money it is spending on pensioners.
Delivering his spending review in the House of Commons today, Brown says the government intends to spend an extra £140m on pensioners in Britain over the next couple of years, alongside current spending on winter fuel allowances and other add-ons to the benefit system. He also reveals plans to around 160,000 retirees will receive instant care alarm systems in their homes so they can stay in their own homes without fear of doing so but still have support of care services at the end of a line should they require it. IFAonline
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes