Pension news: State pension WILL increase next year under Triple Lock as inflation falls

STATE pensions will rise next year under the Triple Lock after the inflation rate for September fell weaker than expected. Figures from the Office for National Statistics (ONS) revealed the rate of Consumer Price Index inflation was 2.4 percent in September, compared to 2.7 percent in August.

This was the lowest level since June and came as a surprise for economists who were expecting inflation to fall to 2.6 percent.

It means state pensions will see an increase of 2.6 percent, as average earnings in the last year have grown at a quicker rate than inflation.

The current level of the full state pension is £164.35 per week, equivalent to £8,546.20 per year.

Under the Triple Lock, the state pension should see a rise of £4.25 per week next year,...
source: Express

2018-10-17 12:17
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