Some 450,000 people will not get new State Pension payments worth up to £221.20 per week during the 2024/25 financial year.
Millions of people claiming their State Pension can look forward to an inflation-busting boost next week when payments rise by 8.5 per cent on Monday, April 8. Under the wages growth measure of the Triple Lock policy, those on the full New State Pension can expect an annual increase of £902, while those on the full Basic State Pension will see an uplift of £692.
Under the Triple Lock, the State Pension increases each year by whichever is the highest between average annual earnings growth from May to July, the Consumer Price Index inflation rate in the year to September or 2.5 per cent. The campaign also highlights how many of the State Pensioners affected worked as nurses, firemen, police officers and other public servants, some are military veterans.
“Those in countries with reciprocal agreements are unaffected so if you were a pensioner in the USA you would continue to get an uprating, but if you lived just across the border in Canada you would not.As an example of the difference between State Pensions for those living in the UK and those in a non-reciprocal agreement country, a pensioner aged 90 who has lived in a ‘frozen country’ for the duration of their retirement will receive a State Pension of just £43.
Latest State Pension News Online petition An online petition on the End Frozen Pensions website has already received more than 20,200 signatures of support. The petition highlights a number of people who have retired abroad and are missing out on the annual State Pension uprating. You can view the video and petition here.Basic State Pension payment rates 2024/25 These payments will rise by 8.5%:
Personal Finance UK Government Retirement Pensions Money Worries
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Increase in State Pension and Pension Credit PaymentsMillions of people receiving state pension or Pension Credit will see an increase in their payments as the Department for Work and Pensions plans to raise the rate of benefits and other payments by 6.7% on April 8.
Read more »
Man fell 1,500ft to his death from hot air balloon in MelbourneA passenger fell 450 metres from a hot air balloon over Melbourne.
Read more »
New State Pension rates next month could see more older people paying income taxAn estimated 900,000 people in receipt of the State Pension may need to pay tax for the 2024/25 financial year.
Read more »
State Pension tax bill warning to older people before new pay rates next weekAround 900,000 people in receipt of the State Pension may need to pay tax for the 2024/25 financial year.
Read more »
DWP new state pension rates for April in full as millions to get £900 boostThe DWP will introduce new higher rates for state pension payments
Read more »
Older women on Basic State Pension due back payments from DWP this yearThe DWP has published an update on the average amount of underpayments made to nearly 100,000 older women.
Read more »