Some 9.7 million people on the Basic State Pension could see weekly payments rise by up to £40 each month from next April, under the Triple Lock policy.
Both the Conservatives and Labour Party have pledged to maintain the Triple Lock for the duration of the next parliament, if they win the General Election on July 4.
Under the Triple Lock, the New and Basic State Pensions increase each April in-line with whichever is the highest of the average annual earnings growth from May to July, the Consumer Price Index (CPI) in the year to September or 2.5 per cent.
The latest figures from the Office for National Statistics (ONS) show that the CPI inflation rate dropped from 2.3 per cent in April to 2.0 per cent in May.
Read more on dailyrecord.co.uk
Celebsbar.com is a large online platform sharing celebrity gossip and latest showbiz news. Exclusive interviews, fresh photos and videos, breaking news, scandals and more is waiting for you here.
Stay tuned to know everything you wish about your favorite stars 24/7.
Check our daily updates and make sure you don't miss anything about celebrities' lives.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.