Financial expert explains what increase could boost pensioners in 2025 based on current trends
The Office for National Statistics has revealed that UK inflation dropped to its lowest level in almost three years this April. The Consumer Price Index inflation rate decreased to 2.3 per cent, a significant drop from March's 3.2 per cent.
In April, the New and Basic State Pensions saw an increase of 8.5 per cent. This means someone on the full New State Pension will receive £221.20, or £884.80 every four-week pay period during the 2024/25 financial year, reports the Daily Record. Those on the full Basic State Pension will receive £169.50 each week, or £678 every four-week pay period.
"With inflation now below the 2.5 per cent underpin, it's likely to be earnings growth that determines next year's Triple Lock increase, as the latest figures have this sitting at 5.7 per cent ."
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
People on New State Pension could be due up to £935 each month next yearA drop in UK inflation is likely to see the earnings growth measure of the Triple Lock determine the annual uprating.
Weiterlesen »
State pension could rise to £935 a month as experts make triple lock predictionThe triple-lock means that, even if inflation falls, pensioners will still get a payrise
Weiterlesen »
People on New State Pension could be due up to £935 each month from next AprilA drop in UK inflation is likely to see the earnings growth measure of the Triple Lock determine the annual uprating.
Weiterlesen »
2025 MotoGP rider line-up: Who is confirmed and rumoured for 2025 grid?Here is the contract situation of every MotoGP rider ahead of the 2025 season
Weiterlesen »
What will the election mean for your pension: Is the state pension 'triple lock' safe?We look at the promises the parties are making, what they will avoid talking about during the campaign, and what they might really do after the polls close.
Weiterlesen »
A’ja Wilson named Nike signature athlete, sets sneaker collection release for 2025Wilson has been working with Nike for more than a year to create her collection.
Weiterlesen »