UK pensions regulations change
UK pensions regulations were changed in yesterday's Budget, in a move aimed at helping poorer pensioners make ends meet.
Alistair Darling announced a number of measures aimed at helping poorer pensioners to make ends meet in yesterday's Budget for the forthcoming fiscal year.The chancellor's measures included increasing the number of people who will be eligible for UK pension credit by raising the capital disregard threshold from £6,000 to £10,000.
Mr Darling also announced that this year, pensioners in the UK will once again receive the winter fuel allowance at the increased rate introduced in 2008, amounting to £250 for eligible people over the age of 60 and £400 eligible octogenarians.
Financial commentators such as Vanessa Owen, head of Equity release at LV=, welcomed the moves. She said: "The increase in the savings disregard for pension credit will go some way towards rewarding those pensioners who have saved their whole lives towards their retirement."
Other measures announced in the Budget include increasing the tax-free savings allowance offered on ISA savings accounts in the UK.
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