State Pension To Rise Just £2.40 Next Year
The annual appraisal of the state pension is traditionally based on September’s inflation results. The retail prices index was – 1.3% the previous month and was expected to be in parity or less for this month.
The resulting figures will see the state pension increase a mere £2.40 from next April, half the rise brought about the previous year.
The paltry increase will see pension payments increase from £95.25 to £97.65 per week, which prompted furious outbursts from politicians and Age Concern, whom are lobbying for reform in the UK pensions system.
It is thought that thousands of men and women already over the state retirement age have put off full retirement to earn an extra income for their domestic or QROPS overseas pension.
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