UK Pensioners to Receive £18 Weekly Boost as State Pension Sees 8.5% Increase
TL;DR
Chancellor Jeremy Hunt has announced an 8.5% increase in the state pension, amounting to an extra £17.33 per week for pensioners. This increase will be in line with the 'triple lock' policy, which guarantees that pensions rise each April by the highest of average earnings, inflation, or 2.5%. The decision to retain the triple lock has faced criticism, with some arguing that pensioners are already better off than working-age people. The increase is expected to cost the Treasury £2 billion per year. Additionally, Hunt plans to cut National Insurance, make a tax break for firms permanent, and increase benefits by 6.7%.
- Autumn Statement 2023: Pensioners will get an extra £18 a week as Jeremy Hunt unveils 8.5% state pension hike Daily Mail
- Britain's Hunt broadens push to unlock pension pots for growth Reuters UK
- Hunt’s pension ‘pot for life’ idea would be nightmare to set up, experts say The Guardian
- 'I'm not falling for the £900 state pension bribe' The Telegraph
- UK to increase state pension by 8.5%, sticks with 'triple lock' commitment Reuters UK
- View Full Coverage on Google News
Want the full story? Read the original reporting
Read on Daily Mail