Budget 2012: Squeeze on pensions will hurt us
RETIRED Norman Hull, 81, will lose out on increased income in years to come.
He and his wife Barbara, 80, who live in Northampton, will be affected by the freeze on age-related personal tax allowances.
“The news is a bit of a blow,” said Norman.
To add to the pressure they have taken equity from their home to help fund the education of grandchildren Thomas and Victoria Hayes.
Norman said: “We have already taken the hit of a drop in income generated from savings with interest rates being, and remaining, so low and now we are very disappointed. There really is very little for us. As a whole the Budget is one for the rich.”