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Pensioners’ interest on savings are being decimated

Your newspaper is full of our rosy economic future. But at the same time, we are reminded to save for our pensions and the inevitable rainy day.

I receive the state contributary pension, with my husband, and over recent years we have seen its little extras eroded. But this is nothing compared to the decimisation of the bit of interest we get from our savings.

Ten years ago one could get 4-5%, less DIRT of 20%. Now we are lucky to get 1.5%, and DIRT is 41%. How can you expect people to save when the rewards are so tiny? An annuity might give us a larger income, but then there would be nothing to leave to the children.

Anne Iremonger




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