Lily Megson, policy director at My Pension Expert felt that pensioners would continue to face financial challenges regardless of the anticipated £400 state pension boost.
She explained: “The recent decision to cut the winter fuel payment for most households will be a major concern for many older people at a time when energy prices remain high. Simply put, the triple lock alone won’t address all the UK’s pension challenges.
“Instead, it's crucial that the government takes additional steps to improve financial literacy among savers.
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“By collaborating with the financial services sector, they can ensure accessible financial education and advice, empowering people to take control of their financial futures.”
alina.khan@ft.com
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