Displaying items by tag: State Pension

Retirees are set to receive a 8.5% increase to their State Pension from April next year as CPI inflation held steady at 6.7% for the year ending September.

The latest official wage growth figures published today by the ONS means the state pension should hit £11,501 in April 2024, a 8.5% rise, up from £10,600 this year.

The annual growth in average pay including bonuses hit 8.2% in June, according to figures published this morning by the Office for National Statistics.

Former Pensions Minister Baroness Altmann has called on policymakers to look at other ways to solve rising state pension costs than raising the starting age, cutting the amount or more means-testing.

Almost nine in ten (86%) mass affluent pension savers expect the State Pension to be a vital part of their retirement income, according to a new report.

The cost of a comfortable retirement has increased by nearly a fifth in the last two years as average spending by retired households climbs to £23,675 a year, new analysis of the latest Government data has shown.

There needs to be fundamental reform to the State Pension to prevent later life poverty from worsening as the pension age rises, a new report warns today.

Newspaper reports suggesting that the State Pension Age (SPA) could rise to 68 sooner than planned are an example of the Prime Minister “playing with political fire,” according to one pension expert.

The Department for Work and Pensions (DWP) has shared six previously unrevealed errors in State Pension payments it has had to act to correct since 2007.

The Spring Statement ignores the needs of the elderly and will lead to a rise in pensioner poverty, according to Baroness Ros Altmann.