Sentence examples for existing pensioners from inspiring English sources

It is important to stress that any changes will not affect existing pensioners and will not reduce pensions that existing workers have already accrued.

The scheme will open in October 2015 when the Government introduces a new class 3A of voluntary national insurance contributions (NICs), available to existing pensioners and anyone due to reach state pension age before April 2016 when the single tier pension is brought in.

The move – while certain to be popular with existing pensioners, who will not benefit from radical pension reforms already announced – will be controversial, with critics arguing that older people could be tempted to make rash decisions and leave themselves short of regular income late in life.

In what is seen as an attempt to woo older voters, the chancellor is expected to extend pension changes from April 2016, to allow existing pensioners to swap their annuity for a fixed lump sum.

The law obliged companies to pay existing pensioners in full and forbade them from emptying their pensions pot below a so-called minimum funding requirement (MFR).

Gibson said: "The white paper offers nothing to existing pensioners and leaves many of them to struggle on lower pensions and a complicated means-testing system.

Existing pensioner benefits, by contrast, have been largely untouched by the public spending cuts, except for the wealthiest pensioners.

This would mean that existing frozen pensioners would receive the annual percentage increase enjoyed by their UK peers, stopping the year-on-year real-terms decrease.

Under existing arrangements, pensioners who have saved enough to ensure a weekly income of up to £100 in 2003-04 wouloseout out, since they would receive the MIG of £100 in any case.

The existing ability for pensioners to take 25% of their pension pot tax-free at the point of retirement will remain, but the tax rate on drawdown of the remaining cash will be slashed from 55%to20%0% for most.

Tory plans to privatise all pensions would place on one generation the burden of providing for themselves as well as the existing generation of pensioners.