The earnings growth measure which could decide the annual State Pension increase will be published on September 10.
Millions of State Pension ers could find out the annual uprating for the contributory benefit next week when the latest earnings growth figures will be published by the Office for National Statistics . The measure forms part of the Triple Lock policy which the Labour Government has pledged to keep for the next five years.
Chancellor Rachel Reeves will confirm the State Pension and benefits uprating during the Autumn Budget on October 30, so the calculations below are estimates based on the current highest measure of the Triple Lock. Similarly, the full Basic State Pension could rise by £7.60 per week from £169.50 to £177.15, or £708.60 every four-week payment period. This would give a monthly income boost of £30.40.
He said: “While not yet certain, this gives the best indication yet of by how much the State Pension will increase next April under the Triple Lock, which the Labour Government has confirmed will remain in place. The lower increase announced last month is because of a one-off bonus paid to NHS staff last June which will also suppress the figure announced this month.
Latest State Pension News Commenting on the potential uprating impact on next year's Winter Fuel Payments, which will now only be issued to pensioner on a low income in receipt of a means-tested benefit such as Pension Credit, Steven said: "While next April’s State Pension increase is likely to be higher than current inflation, any increase in ‘real’ terms will be significantly dented by the loss of the Winter Fuel Payments.
He added: "The Triple Lock may be safe for the next five years, but the Government is clearly looking for ways to balance the nations finances."
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