show stars

State pension payments set to increase by almost £300 as inflation drops to 3.1%

Reading now: 618
www.dailystar.co.uk

state pension was set to rise to "highest increase in decade". The triple lock sets an increase to weekly payments based on the higher average wages, the consumer prices index (CPI) or 2.5%.Now from figures released this morning is shows the state pension is set to increase by 3.1% in 2022/23.It could mean pensioners will receive a boost of more than £5.50 a week.Tom Selby, head of retirement policy at AJ Bell, said: "The good news is the state pension is set to increase by 3.1% next year."The basic state pension, meanwhile, is set to rise by £4.25 to £141.85 per week."However, the Government's decision to suspend the earnings element of the state pension triple lock means retirees will miss out on a blockbuster 8.3% increase."He added:.

Read more on dailystar.co.uk
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA