Could be welcome news to millions
The new full State Pension has increased since the uprating in April by 10.1% and is now worth £203.85 each week.
Recently, the two major political parties, . This was introduced by the Coalition Government in 2010, ensuring that the State Pension rises in line with the greater of the September’s Consumer Price Index inflation rate, earnings growth, or 2.5%, the Daily Record reports.The Bank of England’s latest CPI inflation rate forecast for September is 7%, which would boost the full New State Pension from £10,600 to £11,342 from April 2024.
He explained: “Both Conservatives and Labour have pledged a commitment to the Triple Lock in their manifestos for the upcoming general election. And the policy of the current UK Government is to keep the personal allowance frozen until at least 2027/28 at £12,570, with no indication of an alternative policy from Labour.
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