The final measure of the State Pension Triple Lock for the 2024 uprating is set to be announced on October 18.
The Triple Lock will determine the level of uprating to be applied to the State Pension for the 2024/25 financial year and pays the highest between September’s Consumer Price Index inflation rate, earnings growth, or 2.5 per cent. The frontrunner for the uprating is currently earnings growth, which came in at 8.5 per cent for the period between May and July.
The CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations warned earlier this year that hundreds of thousands of Brits living abroad in retirement missed out on the State Pension uprating applied to the contributory benefit in April. Top Money Stories Today Commenting recently on the 2023/24 State Pension uprating, Mr Green said: “An estimated 500,000 retired Brits who live abroad will not receive any boost at all. Outrageously, they will continue to have their pensions frozen in value at the point of retirement date or date of emigration.
However, Mr Green explained that the majority of affected State Pensioners live in some of the biggest Commonwealth countries - such as Australia and Canada - and, despite paying taxes all their working lives in the UK, and National Insurance contributions in full, these Brits will miss out on the uprating.
Latest State Pension News Estimated State Pension payments from April 2024 The estimated calculations show the current annual rates for the full New and Basic State Pensions. The 'monthly payment' calculated below refers to every four weeks, there are 13 payments made throughout the year.
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.
New State Pension weekly pay rates from April could be set out this weekThe September CPI inflation rate will be announced on Wednesday and is a key measure of the Triple Lock.
Read more »
People of State Pension age can boost their income 18 ways before this year endsMore than a dozen ways people of State Pension age can boost their income before New Year.
Read more »
Dementia risk 'cut' by one specific fruit that could make you live longerHaving this juicy fruit as a snack could help cut your dementia risk significantly and also reduce the risk of fatty liver disease.
Read more »
Greater Manchester's pension fund invests £150m in property giantGMPF has over 414,000 pension members and pays over £750million of benefits each year
Read more »
Ohio State WR Emeka Egbuka out vs. Purdue; Buckeyes could be without 3 other key playersIt's the most banged up Ohio State has been entering a game this season.
Read more »
Ohio State avoided Purdue trap even as injuries mount. Is it ready for Penn State?A quick start and solid production from the running game keyed the Buckeyes to a stress-free win in West Lafayette before Penn State visits.
Read more »