How much will the UK state pension increase in 2023?
2 years, 1 month ago

How much will the UK state pension increase in 2023?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK state pension is set to increase by more than 10 per cent from April 2023 after chancellor Jeremy Hunt promised to honour the “triple lock” commitment in his Autumn Statement last November. The “triple lock” is a guarantee that monthly payments will rise in tandem with whichever of the following three options is highest: the Consumer Price Index measure of inflation, average earnings between May and July of the previous year or, simply, 2.5 per cent. Mr Hunt duly confirmed in his address to the House of Commons on 17 November that the triple lock would be reinstated and that pensions would be uprated in line with CPI inflation, which stood at 10.1 per cent last September, much higher than the average earnings rate of 5.2 per cent or the 2.5 per cent baseline. While that is good news for the 12.5m older Britons who currently claim a state pension, it still does not quite keep pace with the CPI due to that September lag, the rate having risen to 11.1 per cent in October before falling to 10.7 per cent in November, which is still above what pensioners will be receiving.

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History of this topic

Martin Lewis reveals how you can boost your state pensions by thousands - but you'll have to be quick
3 weeks, 1 day ago

Martin Lewis reveals how you can boost your state pensions by thousands - but you'll have to be quick

Daily Mail  

Martin Lewis has revealed how Britons can potentially boost their state pensions by thousands of pounds, but you must act quickly because the deadline is fast approaching. Martin Lewis has revealed how UK citizens can boost their state pensions by thousands on ITV's Martin Lewis Money Show Martin explained that citizens need at least ten qualifying NI years to receive …

How to top up your state pension before it’s too late - with key deadline approaching
1 month ago

How to top up your state pension before it’s too late - with key deadline approaching

The Independent  

You have until 5 April 2025 to top up your state pension by filling in any gaps in your National Insurance record from 2006 to 2018. How the new state pension works Under the new state pension system, you must have 35 qualifying years of National Insurance contributions to be eligible for the full state pension, which will rise to …

Got a UK state pension? You could get more than you thought
1 month, 2 weeks ago

Got a UK state pension? You could get more than you thought

Dutch News  

If you are a British national or think you might be entitled to a British state pension because you worked there for a time, it might be worth checking your entitlement. The British state pension requires at least 10 years of NI contributions and to get the most out of it you need 35. Expats can often pay Class 2 …

DWP to send pensioners letter about income boost worth up to £4,000
2 months, 2 weeks ago

DWP to send pensioners letter about income boost worth up to £4,000

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. From April this year, millions of pensioners will benefit as the state pension increases …

Revealed: How much your state pension will rise in the next five years... exposed by Budget smallprint
4 months, 3 weeks ago

Revealed: How much your state pension will rise in the next five years... exposed by Budget smallprint

Daily Mail  

The state pension is set to rise by just 15 per cent over the next five years – just half the increase that retirees have enjoyed over the past five years, figures hidden in the fine print of the Government’s official forecasts reveal. It means more than 12 million pensioners are set for a 4.1 per cent boost to the …

What the Budget means for different ages: From renters and families to the retired
4 months, 3 weeks ago

What the Budget means for different ages: From renters and families to the retired

Daily Mail  

Rachel Reeves's £40 billion tax bonanza will affect the financial wellbeing of millions of households for years to come. Smash-and-grab: Rachel Reeves's £40 billion tax bonanza will affect the financial wellbeing of millions of households for years to come Young workers, renting and first-time buyers First-time buyers could face paying thousands more in stamp duty after Rachel Reeves lowered key …

Benefits rise to ‘barely touch sides’ of cost-of-living squeeze, experts warn
5 months, 1 week ago

Benefits rise to ‘barely touch sides’ of cost-of-living squeeze, experts warn

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. But if working-age benefits were uprated in line with …

Deadline to boost state pension entitlement is less than six months away
5 months, 2 weeks ago

Deadline to boost state pension entitlement is less than six months away

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Using our online tool means only a few clicks …

Can you retire early… and live in comfort? A top money guru reveals what pension you need, whatever your age
5 months, 3 weeks ago

Can you retire early… and live in comfort? A top money guru reveals what pension you need, whatever your age

Daily Mail  

How much will a good retirement cost you? I told Miss Lolly I’d like to retire aged 60, just as long as I have enough money to feed me and my future pet cats.’ Miss Lolly says ‘Taking into account the £4,400-plus you already have in pensions, you can expect to get £8,405 per annum from age 65, along with …

State pension to rise by £460 near year – but experts warn of catch amid Winter Fuel Payment row
6 months, 2 weeks ago

State pension to rise by £460 near year – but experts warn of catch amid Winter Fuel Payment row

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} The full UK …

State pension: Will retirees feel better or worse off in the months ahead?
6 months, 2 weeks ago

State pension: Will retirees feel better or worse off in the months ahead?

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

State pension set to rise by £460 next April
6 months, 2 weeks ago

State pension set to rise by £460 next April

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The full state pension is …

State pension set to increase by £400 – but there’s a tax catch
6 months, 3 weeks ago

State pension set to increase by £400 – but there’s a tax catch

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. This will come as welcome news to pensioners who are struggling with bills and …

Reported £400 pensions boost ‘cold comfort’ for retirees struggling this winter
6 months, 3 weeks ago

Reported £400 pensions boost ‘cold comfort’ for retirees struggling this winter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Jon Greer, head of retirement policy at wealth manager …

Thousands of people ‘only receiving fraction of full state pension’
6 months, 3 weeks ago

Thousands of people ‘only receiving fraction of full state pension’

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. We often …

How retired baby boomers captured £1 in every £5 Britain spends
9 months ago

How retired baby boomers captured £1 in every £5 Britain spends

The Telegraph  

Pensioners have been the biggest beneficiaries of 14 years under the Conservatives with more than £1 in every £5 spent by the Government going to the over-66s, a think tank has said. Sophie Hale from the Resolution Foundation said: “The combination of Britain’s big baby boomer generation retiring, and policies that have benefited pensioners the most, has meant that the …

Britain’s welfare bill to soar over next four years as parties commit more money for pensioners
9 months, 1 week ago

Britain’s welfare bill to soar over next four years as parties commit more money for pensioners

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The booming spending is fuelled by guarantees for pensioners, such as both main parties’ commitment …

State pension 'will never be taxed under the Tories': Rishi Sunak moves to shore up support among older generation with 'Triple Lock Plus' vowing personal allowance will rise at same rate in £100-a-ye
9 months, 3 weeks ago

State pension 'will never be taxed under the Tories': Rishi Sunak moves to shore up support among older generation with 'Triple Lock Plus' vowing personal allowance will rise at same rate in £100-a-ye

Daily Mail  

Rishi Sunak moved to shore up Tory support among the older generation today as he declared that state pensions will never be taxed. Rishi Sunak said the plan would give pensioners 'peace of mind and security in retirement' as he took questions at an event in Stoke-On-Trent today In a round of interviews this morning, Work and Pensions Secretary Mel …

State pension increase: How much will payments go up in April with the triple lock?
11 months, 2 weeks ago

State pension increase: How much will payments go up in April with the triple lock?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} The state pension …

Benefits and pension triple lock: the 5 big money changes to know this April
11 months, 2 weeks ago

Benefits and pension triple lock: the 5 big money changes to know this April

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Jeremy Hunt poses with the red Budget box, 6 March …

Cost-of-living payment: Hundreds of thousands of people urged to check if they’re eligible for £299 from DWP
1 year, 1 month ago

Cost-of-living payment: Hundreds of thousands of people urged to check if they’re eligible for £299 from DWP

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Department for Work and Pensions said about 880,000 eligible …

Annual cost of moderate retirement up £8,000 amid rising living costs – research
1 year, 1 month ago

Annual cost of moderate retirement up £8,000 amid rising living costs – research

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The cost of living has put enormous pressure on …

January 2024 dates for benefits, pensions and cost of living payments
1 year, 2 months ago

January 2024 dates for benefits, pensions and cost of living payments

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Benefits going out as usual The usual state support in the shape of benefits …

State pension increase of 8.5% will be greeted with relief, say experts
1 year, 4 months ago

State pension increase of 8.5% will be greeted with relief, say experts

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. This huge increase is down to red hot wage …

Is breaking the triple lock on pensions the key to balancing Britain’s books?
1 year, 5 months ago

Is breaking the triple lock on pensions the key to balancing Britain’s books?

The Independent  

The chancellor, Jeremy Hunt, is due to deliver his autumn statement, a sort of interim Budget, on 22 November, and already the media are carrying leaks about what’s in store – no substantial tax cuts, higher borrowing costs – and now, another heavy hint that the “triple lock” that boosts the state pension every year is to be “tweaked” or …

Pensioners could be set for inflation-busting state pension rise next April
1 year, 5 months ago

Pensioners could be set for inflation-busting state pension rise next April

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. As is the usual process, the Secretary of State …

Pension triple lock under threat as Jeremy Hunt considers lower payments
1 year, 5 months ago

Pension triple lock under threat as Jeremy Hunt considers lower payments

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chancellor Jeremy Hunt is considering making tweaks to the Tories “triple …

Over 100,000 Brits could be entitled to over £10,000 from the government
1 year, 5 months ago

Over 100,000 Brits could be entitled to over £10,000 from the government

Daily Mail  

More than 100,000 Brits could be eligible to claim over £10,000 from the Government in relation to their state pensions. An error in national insurance records, affecting anyone who took time off work to care for family between 1978 and 2010, means you could receive the government payout. People have been advised not to bin any letters they receive from …

September dates for benefits, pensions and cost of living payments
1 year, 5 months ago

September dates for benefits, pensions and cost of living payments

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Eight million eligible means-tested benefits claimants, including people on universal …

Dates for £300 cost of living payments being made this autumn revealed
1 year, 5 months ago

Dates for £300 cost of living payments being made this autumn revealed

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Millions of households across the UK will get a £300 …

State pension to rise as wages soar but Jeremy Hunt warns tax cuts ‘unlikely’
1 year, 6 months ago

State pension to rise as wages soar but Jeremy Hunt warns tax cuts ‘unlikely’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. After pay including bonuses grew 8.5 per cent in the three months to July, an …

Cost of living 2023: Dates for DWP payments, benefits and pensions
1 year, 8 months ago

Cost of living 2023: Dates for DWP payments, benefits and pensions

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Here are the payment windows that have been announced so far, with more precise …

£670m of state pension underpayments recorded in financial year ending 2023
1 year, 10 months ago

£670m of state pension underpayments recorded in financial year ending 2023

The Independent  

Pension experts have made calls to drive up admin standards after it emerged that around £670 million in state pensions was underpaid in the financial year ending in 2023. Last year’s underpayments total was more than six times the £100 million that was overpaid in state pensions in the financial year ending 2023. The Department for Work and Pensions document …

State pension age could rise to 68 by ‘2040 or thereabouts’, says Mel Stride
1 year, 10 months ago

State pension age could rise to 68 by ‘2040 or thereabouts’, says Mel Stride

The Independent  

The Work and Pensions Secretary said the state pension age is not likely to be raised to 68 until the 2040s — but it is not a decision to be made by the current UK Government. It will be for somebody else to sift through the data in the next Parliament Mel Stride, Work and Pensions Secretary Speaking at a …

Pensioners eligible for £301 cost of living payment issued 10-day deadline warning by government
1 year, 10 months ago

Pensioners eligible for £301 cost of living payment issued 10-day deadline warning by government

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Pensioners on low incomes are …

Raising state pension age decision delayed until after 2024 election
1 year, 11 months ago

Raising state pension age decision delayed until after 2024 election

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A decision on whether to bring forward a planned increase in …

Delaying planned increase in state pension age will cost more than £60bn, IFS warns
2 years ago

Delaying planned increase in state pension age will cost more than £60bn, IFS warns

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Failing to increase the state pension age to 68 as the …

The old pension scheme as a burden on the poor
2 years ago

The old pension scheme as a burden on the poor

The Hindu  

The demand for the old pension scheme is growing especially after a few States announced that they would be reverting to it. In consonance with the spirit of the National Pension System, the Sixth Pay Commission had substantially increased the basic salary of government employees to cover pension contributions and promote savings for post-retirement expenses. Rising pension liabilities The pension …

Full list of DWP revised weekly payment rates for 2023
2 years, 1 month ago

Full list of DWP revised weekly payment rates for 2023

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Following chancellor Jeremy Hunt’s Autumn Statement announcement that benefits and …

The savvy seniors getting £30,000 a year from their state pensions
2 years, 1 month ago

The savvy seniors getting £30,000 a year from their state pensions

Daily Mail  

The British state pension notoriously pays only a bare bones sum to live on in retirement. By contrast, retirees receiving the ‘full’ flat- rate state pension will get a boost of £972 a year, taking their annual income to a maximum of £10,600. Worth the wait: Someone on a basic pension plus Serps of £300 a week would be able …

Pension triple lock ‘unsustainable’ and must be scaled back, says IFS
2 years, 1 month ago

Pension triple lock ‘unsustainable’ and must be scaled back, says IFS

The Telegraph  

April's 10.1pc increase will boost weekly payments for those on the full state pension to £203.85. The IFS said: "On the eve of the pandemic, the working-age benefit bill made up 4.3pc of national income, while the pensioner bill accounted for 5.5pc. The IFS also said changes to working age benefits since the late 1990s had been successful in pushing …

DWP state pension: Martin Lewis reveals how to turn £800 into £5,500
2 years, 2 months ago

DWP state pension: Martin Lewis reveals how to turn £800 into £5,500

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Martin Lewis has revealed a little-known trick that could help …

‘Sigh of relief’ for pensioners as triple lock is confirmed for next April
2 years, 4 months ago

‘Sigh of relief’ for pensioners as triple lock is confirmed for next April

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

State pension to surpass £10,000 a year for first time as inflation soars
2 years, 7 months ago

State pension to surpass £10,000 a year for first time as inflation soars

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The state pension is set …

There is a gulf in generational understanding over the state pension
2 years, 9 months ago

There is a gulf in generational understanding over the state pension

The Independent  

The generation warriors are back, riding their high horses into battle against – guess what? After a year in abeyance, Downing Street and the Treasury have confirmed that the so-called “triple lock” will return, giving the UK’s over-66s a 10 per cent rise in their state pension from next April. But they need to be heard, because – it seems …

Woman, 66, told she ‘doesn’t qualify’ for state pension due to National Insurance loophole
2 years, 9 months ago

Woman, 66, told she ‘doesn’t qualify’ for state pension due to National Insurance loophole

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy People approaching retirement age are being urged to check whether …

Four state pension changes coming in 2022 and how they could affect you
3 years, 2 months ago

Four state pension changes coming in 2022 and how they could affect you

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Both the state pension and pension credit will increase in 2022, and new rules …

State pension to increase by £5.55 a week from next year
3 years, 5 months ago

State pension to increase by £5.55 a week from next year

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The full new state pension is predicted to rise by …

State pension triple lock is unsustainable, says Treasury Committee chief
3 years, 6 months ago

State pension triple lock is unsustainable, says Treasury Committee chief

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

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