Automatic indexation of pension benefits and revaluation of pensionable basic income are common in most industrialised countries. Without upward revaluation, inflation reduces the real value of the pensionable income. The pension benefits and the pensionable basic salary can be indexed to prices or wages...
For most of its lifetime there has been broad consensus on the role of the basic state retirement pension within the benefit system. Most pensioners were poor. The state pension was their main, often their only, source of income. So, if the aim was to relieve poverty, an increase in ...