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White paper forgets today’s retirees says Alliance Trust Savings

The white paper on pension reform does little for today’s retirees according to Alliance Trust Savings.

Head of pensions Hyman Wolanski says: “The plan to restore the link between pensions and earnings from 2012 is a welcome step in the right direction while any move away from means-testing is a boost for those trying to plan their pension.

“Unfortunately, this reform may be too little action for today’s retirees who are already being hit much harder by rising energy and food prices. Indeed, inflation facing today’s over-75s is presently 47 per cent higher than for people of working age*.

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