When people reach the grand age of 80, an extra bit of money gets placed into pensioners’ accounts, known as the age addition payment.
Since 1971 this has been set at 25p a week per pensioner. While 41 years ago this could have afforded a sack of coal and a dozen eggs for the household, these days it leaves many OAPs wondering what they can actually buy with it.
Chairman Ken Lacey is now eager to find out why this part of the pension has not been included in the annual inflation increases.
Mr Lacey said: “I’ve heard the age addition payment called ludicrous, insulting and humiliating.
“Forty-one years ago you could buy many things for 25p but what can you buy today? Not even a packet of Polos and it would take more than two weeks to purchase a stamp.”
In 1971 the payment represented about four per cent of the basic state pension. Mr Lacey said if it had been increased by the original percentage figure it would be worth £4 today and as a result he has put together two simple questions to Mr Penrose to pass on to the secretary of state for work and pensions, Iain Duncan Smith.