State Pension Increases

[Kirkstall Blue]

They removed the triple lock so it looks like a paltry 2pound again. The government intend to make it so low you’ll all have to work until your 90.

 

[Kompany Car]

They removed the triple lock so it looks like a paltry 2pound again. The government intend to make it so low you’ll all have to work until your 90.

It was suspended from Sept 2021 to Sept 2022 and was only a double lock. Its back to being a triple lock from Sept 2022.

https://warwickshirepensionfund.org...cellor of the Exchequer,rise in the next year.

 

[mosssideblue]

It was suspended from Sept 2021 to Sept 2022 and was only a double lock. Its back to being a triple lock from Sept 2022.

https://warwickshirepensionfund.org.uk/news/article/11/state-pension-triple-lock-reinstated#:~:text=The Chancellor of the Exchequer,rise in the next year.

Does that mean April 23 increase will be by next month's CPI?

 

[manclad]

Does that mean April 23 increase will be by next month's CPI?

100% yes to your question.
Will probably be @ 10% increase which means I will get an extra £82.50 per month.

 

[mosssideblue]

100% yes to your question.
Will probably be @ 10% increase which means I will get an extra £82.50 per month.

Cheers Manclad

 

[bluethrunthru]

The pension increase has always got inflation since triple lock, the rise in April was double lock as excluded wage increases they were massive due to coming out of furlough.

special circumstances - inflation to fall - yadda yadda yadda - 2% - will review next year

 

[denislawsbackheel]

Does that mean April 23 increase will be by next month's CPI?

Yep
Both my pensions will go up by Sept 30th CPI

 

[flook]

The pension increase has always got inflation since triple lock, the rise in April was double lock as excluded wage increases they were massive due to coming out of furlough.

yes, but it was still deemed exceptional circumstances, it's difficult to categorise (to my mind anyway) exceptional circumstances 2 years in a row, as this would suggest it's anything but exceptional, even though they may be 2 different exceptionals....its getting a bit messy now

 

[denislawsbackheel]

They won’t touch it.
Most of their voters are over 65.

 

[Fiftyyearsandcounting]

Sunak spouting on about "We must protect pensioners from inflation", yet wasn't he the chancellor who reneged on the triple lock for 2022/23?
Since I retired, 10 years ago, the addition £1000 tax-free allowance for over 65's has gone, my entitlement to a free TV licence has gone, the higher increase index on the SERP'S element of my pension has gone, newer retirees receive a higher pension (and a greater annual increase) and, as stated, last year a broken pledge on the triple lock.
I receive too little to pay tax, but too much for pension credit, so no additional help with "Cost of living payments", just the £400 every one will receive (including my daughter & S.I.L on a combined salary of £98K) plus the £200 (£300 I think this year) pensioners Winter Fuel Allowance.
Next year, I could be paying 25% of my total income to the energy company.