Just 1 in 3 Brits to get full pension
It has been revealed that only one in three workers will get the full £148 flat-rate state pension in 2016.
The report by Money Mail suggests that the figure is far fewer than first estimated.
According the report, only 222,000 of nearly 600,000 people who will reach state pension age in the 12 months from April 2016 will be able to claim the full amount.
“Some politicians, who should have known better, said we would have a more generous and simpler flat-rate pension scheme…Clearly, the new deal is neither of those things, at least not in the early years. It is unfortunate this has not been properly explained and expectations have been raised that can’t be fulfilled,” Malcolm McLean, senior consultant at actuarial firm Barnett Waddingham was quoted as saying by the British media.
The British government has already said that anyone who had 35 years of National Insurance contribution would qualify for the full £148.
Meanwhile, a London-based journalist researcher has slammed the British government’s spending cuts saying they are “widening the gap” between the rich and the poor in the society.
“We learned yesterday that he (the UK chancellor of exchequer) has asked most government ministries to find expenditure cuts of between 25 and 40 percent. That’s horrendous. He has no idea how £20 billion would be saved in government expenditure,” Alan Hart told Press TV’s UK Desk on Wednesday.
The Conservative government has already been under increasing fire from critics for its new budget plan which includes tough austerity measures and spending cuts.
Several rounds of anti-austerity protests have already been held over the past several months in London and other cities across the UK.
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