Millions of Britons due to retire over the next few years face a 'double whammy' that risks seeing £11.5 billion wiped off their retirement funds, according to a new report by the Saga Foundation.
This figure takes in the impact on pensioners of tax and benefit changes, including the freezing of age-related allowances from April 2013 and the reduction in winter fuel payments, alongside rock bottom interest rates and three rounds of quantitative easing.
http://uk.finance.yahoo.com/news/ret...171946860.html
I'm due to retire in 2 years and am getting really depressed about all the knocks UK pensioners are taking at the hands of this - and the last - government. There is something VERY wrong with our system where money is handed out hand-over-fist to those who haven't contributed ...................etc. etc.