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Small Pension Increase: A False Good News?
The government announced with great fanfare an increase in small pensions, but the reality behind this announcement could well surprise – and even outrage – many retirees.
I was wondering why, in September, I had still not noticed any increase in my pension. A surprise? In fact, after checking, it turns out I did receive an adjustment of +80.56 euros on my basic pension. Good news on the surface, but you need to dig a little deeper to understand the true mechanics of this "increase".
Like many retirees, I am entitled to the minimum contributory supplement, an aid designed to top up low pensions. For me, this previously amounted to 232.55 euros per month. However, following the increase in my pension, this supplement was reduced and now amounts to only 151.99 euros per month. In other words, the pension increase is completely neutralised by a proportional reduction in this supplement. The final result? A zero "increase", with the balance remaining unchanged.
This deception is all the more disappointing as the initial announcement suggested increased support for retirees on modest incomes. In the end, it seems this promise is nothing more than a communications exercise with no real impact on the purchasing power of the poorest retirees.
Once again, low-income retirees find themselves reduced to empty announcements with no real impact on their daily lives.
Small Pension Increase: A False Good News?
The government announced with great fanfare an increase in small pensions, but the reality behind this announcement could well surprise – and even outrage – many retirees.
I was wondering why, in September, I had still not noticed any increase in my pension. A surprise? In fact, after checking, it turns out I did receive an adjustment of +80.56 euros on my basic pension. Good news on the surface, but you need to dig a little deeper to understand the true mechanics of this "increase".
Like many retirees, I am entitled to the minimum contributory supplement, an aid designed to top up low pensions. For me, this previously amounted to 232.55 euros per month. However, following the increase in my pension, this supplement was reduced and now amounts to only 151.99 euros per month. In other words, the pension increase is completely neutralised by a proportional reduction in this supplement. The final result? A zero "increase", with the balance remaining unchanged.
This deception is all the more disappointing as the initial announcement suggested increased support for retirees on modest incomes. In the end, it seems this promise is nothing more than a communications exercise with no real impact on the purchasing power of the poorest retirees.
Once again, low-income retirees find themselves reduced to empty announcements with no real impact on their daily lives.
Small Pension Increase: A False Good News?
The government announced with great fanfare an increase in small pensions, but the reality behind this announcement could well surprise – and even outrage – many retirees.
I was wondering why, in September, I had still not noticed any increase in my pension. A surprise? In fact, after checking, it turns out I did receive an adjustment of +80.56 euros on my basic pension. Good news on the surface, but you need to dig a little deeper to understand the true mechanics of this "increase".
Like many retirees, I am entitled to the minimum contributory supplement, an aid designed to top up low pensions. For me, this previously amounted to 232.55 euros per month. However, following the increase in my pension, this supplement was reduced and now amounts to only 151.99 euros per month. In other words, the pension increase is completely neutralised by a proportional reduction in this supplement. The final result? A zero "increase", with the balance remaining unchanged.
This deception is all the more disappointing as the initial announcement suggested increased support for retirees on modest incomes. In the end, it seems this promise is nothing more than a communications exercise with no real impact on the purchasing power of the poorest retirees.
Once again, low-income retirees find themselves reduced to empty announcements with no real impact on their daily lives.