STEVE WEBB: Are additional and deferred state pension increases 'triple locked'?
9 years, 1 month ago

STEVE WEBB: Are additional and deferred state pension increases 'triple locked'?

Daily Mail  

'Triple lock’ increases to the state pension: It's not the law of the land – simply the policy which has been in force since 2010 Former Pensions Minister Steve Webb is This Is Money's new Agony Uncle. When you eventually decide to draw your state pension it will be in three parts - a ‘basic’ state pension, currently £115.95 per week, an additional earnings-related state pension which in your case is £32 per week, and then ‘increments’ on your pension for deferral, worth around £15 per week. Steve Webb: Find out how to ask the former Pensions Minister a question about your retirement savings below In terms of indexation, the basic state pension will be subject to the ‘triple lock’ for as long as this remains government policy. The full rate of the new state pension will be £155.65 per week, but some people will get more than this and others will get less.

Steve Triple Lock Triple Lock Your State Pension Deferred State Steve Webb Pension Increases  deferred  state  triple  week  uprated  locked  pensions  pension  increases  work  steve  line  lock  additional  webb

History of this topic

Why experts fear Labour is planning a new pensions raid, despite Starmer's promises. Here's what they might try to change - and what it would mean for you
Trending News
2 months, 1 week ago

Why experts fear Labour is planning a new pensions raid, despite Starmer's promises. Here's what they might try to change - and what it would mean for you

Daily Mail  

You know the state pension triple lock is in trouble when the minister drafted in to oversee pensions policy has previously labelled it ‘silly’. The state pension triple lock pledges that annual payments to pensioners will rise by the highest of inflation, average wage growth or 2.5 per cent. That would mean that the state pension would rise by inflation …

Shouldn’t politicians admit the pension triple lock is unsustainable?
2 months, 1 week ago

Shouldn’t politicians admit the pension triple lock is unsustainable?

The Independent  

Kemi Badenoch is the latest politician to discover that the state pension “triple lock” has become an electrified fence. In her LBC interview, she actually said “No” when asked if she was “going to look at the triple lock”, but because she then talked about “means-testing”, she has been reported as questioning the policy, which guarantees that the state pension …

DWP to send pensioners letter about income boost worth up to £4,000
2 months, 3 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 …

Benefits rise to ‘barely touch sides’ of cost-of-living squeeze, experts warn
5 months, 2 weeks 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 …

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 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 …

Rachel Reeves needs to raise billions and pensioners fear they are the target
8 months ago

Rachel Reeves needs to raise billions and pensioners fear they are the target

The Telegraph  

Rachel Reeves’ decision to end winter fuel payments gave Britons a taste of who the Chancellor is likely to hit with higher taxes in her maiden Budget. When asked to define who a working person was, she declared: “Someone who goes out to work for their income.” That leaves owners of businesses and other assets and pensioners as likely targets. …

Labour pledges to retain triple lock and undertake pensions review
9 months, 2 weeks ago

Labour pledges to retain triple lock and undertake pensions review

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. Labour’s General …

What is the triple lock plus – and what could it mean for pensions?
9 months, 3 weeks ago

What is the triple lock plus – and what could it mean for 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. Paul Johnson, director of the respected Institute for Fiscal Studies, has said that the …

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
10 months 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 …

What will the election mean for your pension: Is the state pension 'triple lock' safe?
10 months ago

What will the election mean for your pension: Is the state pension 'triple lock' safe?

Daily Mail  

Election under way: What pension promises will be made and will they be kept? State pension triple lock Labour and the Tories both promised before the election was even announced they would keep the state pension 'triple lock' for the whole of the next parliament. Yes No Do you believe whichever party wins the election will keep the state pension …

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 …

Minister defends triple lock for pensioners despite affordability concerns
11 months, 3 weeks ago

Minister defends triple lock for pensioners despite affordability concerns

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 …

Benefits and pension triple lock: the 5 big money changes to know this April
11 months, 3 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 …

Government should reform ‘costly’ triple lock to free up money, OECD says
1 year, 4 months ago

Government should reform ‘costly’ triple lock to free up money, OECD says

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 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 {{ …

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 …

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 …

Sunak signals state pension could rise by almost 8% as he commits to triple lock
1 year, 7 months ago

Sunak signals state pension could rise by almost 8% as he commits to triple lock

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 Rishi Sunak has signalled that …

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 …

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 …

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 …

‘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 …

Triple lock pension latest news today: What is it and what difference does it make to pensioners?
2 years, 5 months ago

Triple lock pension latest news today: What is it and what difference does it make to pensioners?

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 …

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

Government urged to announce decision soon on triple lock
3 years, 6 months ago

Government urged to announce decision soon on triple lock

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 …

Rishi Sunak suggests he could SCRAP pensions 'triple lock'
3 years, 8 months ago

Rishi Sunak suggests he could SCRAP pensions 'triple lock'

Daily Mail  

Rishi Sunak today suggested that the 'triple lock' on pensions may have to be broken this year to avoid a £3billion hit to Covid-battered public finances. The Chancellor said concerns about the Government policy are are 'completely legitimate' amid concerns state pensions may rise by 8 per cent because of the pandemic. The triple lock guarantees that the state pension …

Surging cost of pensions triple lock piles more pressure on Chancellor
3 years, 8 months ago

Surging cost of pensions triple lock piles more pressure on Chancellor

The Telegraph  

Rishi Sunak is facing fresh pressure to scrap the triple lock on state pensions after the Government's own fiscal watchdog warned that retirement payments could surge this year in a £3bn hit to the public purse. The triple-lock, a Conservative manifesto pledge, guarantees state pensions rise by whichever is highest out of consumer price inflation, earnings growth of a 2.5pc …

The Government's position on pensions is unsustainable, and can only make intergenerational inequality worse
7 years, 8 months ago

The Government's position on pensions is unsustainable, and can only make intergenerational inequality worse

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Institute for Fiscal Studies has …

State pension triple lock survives the Tory-DUP deal
7 years, 9 months ago

State pension triple lock survives the Tory-DUP deal

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. You might …

How to grab a hidden £237 a year state pension boost
7 years, 9 months ago

How to grab a hidden £237 a year state pension boost

Daily Mail  

An estimated one million early retirees could boost their state pension for a knock-down price. State pension boost: Investing just £741 this year could buy an extra £237 a year income for life The returns make it tempting for those with small private pensions, or spare savings earning very little interest, to cash in and buy more government-guaranteed state pension. …

Government vows to protect pensions triple lock, after ‘grand betrayal’ warning
8 years, 7 months ago

Government vows to protect pensions triple lock, after ‘grand betrayal’ warning

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. Recently appointed shadow Work and Pensions Secretary Debbie Abrahams told The Independent: “Just months ago …

Triple-lock pension protection should be abolished, says former pensions minister
8 years, 7 months ago

Triple-lock pension protection should be abolished, says former pensions minister

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. Baroness Altmann, who left her post as pensions minister in Theresa May’s reshuffle, warned the …

Autumn Statement: State pension to increase by its largest amount for 15 years
9 years, 4 months ago

Autumn Statement: State pension to increase by its largest amount for 15 years

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 The state pension will increase by its largest amount for 15 …

There's a new way of increasing the weekly pension by up to £25 a week
9 years, 5 months ago

There's a new way of increasing the weekly pension by up to £25 a week

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 More than 250,000 people who …

Delaying your state pension for just a year could net you £10k
9 years, 9 months ago

Delaying your state pension for just a year could net you £10k

Daily Mail  

Holding off on drawing your state pension for just one year could make you more than £10,000 richer over the rest of your lifetime, new research shows. People reaching official retirement age before next April get a 10.4 per cent boost to their future income for each year they put off taking the state pension, which is currently worth £115.95 …

Boost for deferring state pension to be slashed in half from 2016
10 years, 8 months ago

Boost for deferring state pension to be slashed in half from 2016

Daily Mail  

Workers to lose out on thousands as bonus payout for delaying state pension is slashed in HALF from 2016 The boost workers get for delaying their state pension will be slashed almost by half, costing future pensioners thousands of pounds throughout their retirement. Pensions minister Steve Webb confirmed today that when the new state pension is introduced in April 2016, …

Discover Related