The Chancellor made some bombshell announcements at a London including £60billion worth of pledges
At the International Investment Summit in London on Monday, Chancellor Rachel Reeves confirmed the state pension increase alongside a number of other revelations. Many of these were only expected to be confirmed during the Autumn Statement on October 30th but the Chancellor explained exactly why retirees should still tune into that budget speech.
The triple-lock pledge ensures that every year the state pension sum is uplifted to stay competitive with the cost of living. Each April the amount rises in line with the highest between three figures: inflation, wage growth or a flat 2.5% rate.
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