AN important part of Chancellor George Osborne’s autumn statement dealt with benefits and pensions.
Mr Osborne said in 2010 that the state retirement pension would be linked to average earnings, the consumer prices index or rise by 2.5 per cent, whichever was the greater.
It had been suggested that the September inflation figure of 5.2 per cent would not be the rate of increase as it was unaffordable, but the Chancellor has kept to his word and paid the amount in full.
This is welcome news for pensioners.
LD Wilson, Guisborough.
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