State pension to rise 4.8% as inflation holds steady

Inflation remained unchanged at 3.8 per cent in September, meaning the state pension will rise by 4.8 per cent in line with July’s earnings growth figure under the triple lock. In April 2026, the state pension will get bumped up by the July earnings growth figure of 4.8 per cent. Therefore, the full ‘new’ state pension should increase from £230.25 …

Government confirms review of state pension age

Dr Suzy Morrissey has been appointed by DWP to prepare an independent report ahead of the review. The government has today launched the third review of state pension age. First announced in July, the review will consider whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence. The government is set to …

State Pension to increase by £460 a year, but most pensioners will still be worse off

With most pensioners paying tax, and more than half next year’s rise simply keeping pace with inflation, most pensioners will still be worse off overall in real terms if they lose the winter fuel payment. Last week’s labour market data shows that average earnings in the three months to July 2024 rose by 4.0% – likely the figure used to …

Up to 1.6 million more pensioners to pay income tax by 2028

Frozen income tax thresholds will see up to 1.6m more pensioners breaching the £12,570 personal tax threshold by 2028, research suggests. As many as 1.6 million more pensioners will be paying income tax within the next four years due to frozen tax thresholds and the rising value of the state pension, according to the Telegraph. Analysis for the House of …