State pension to rise 8% next year as govt cost to hit £134bn.

The expected 8% increase for the 2024-25 financial year follows the 10.1% state pension increase this year. The Treasury is set to increase the state pension by more than 8% from next April as record earnings growth looks to exceed inflation, according to the Financial Times. The value of the state pension is determined by the pension triple lock, which …

Retirement ProfessionalsState pension to rise 8% next year as govt cost to hit £134bn.

New tax year, new changes for pensions in 2016-2017

The new tax year for 2016-2017 starts today (April 6th) which means new changes, so here is what you need to know. THE NEW STATE PENSION The new ‘single-tier’ state pension starts today which means anyone who reaches pension age from April 6th will get the full flat rate payout of £155.65 per week. This will only apply if you …

Retirement ProfessionalsNew tax year, new changes for pensions in 2016-2017