Increase in basic State Pension from April 2012
From next April, Pensioners will benefit from the biggest ever cash increase to their basic State Pension, as it goes up by September’s Consumer Prices Index of 5.2%. This works out as an increase of £5.30 a week and will bring it to £107.45.
Minister for Pensions Steve Webb said:
“Our ‘triple lock’ commitment to give pensioners the best of prices, earnings or 2.5% on their basic State Pension gives them the reassurance that their pension will increase by a fair amount every year.
“It also means that by next April the basic State Pension will be worth 17% of average earnings, the highest it has been in any year since 1997.”
Ministers also confirmed that support for disabled people will be protected with a 5.2% increase to their benefits.
Read more…..
Amanda Frewin
Research & Project Support
Increase in basic State Pension from April 2012
Posted in Economy, THE GRAPEVINE! news, comment & a bit of gossip | Leave a comment
Increase in basic State Pension from April 2012
From next April, Pensioners will benefit from the biggest ever cash increase to their basic State Pension, as it goes up by September’s Consumer Prices Index of 5.2%. This works out as an increase of £5.30 a week and will bring it to £107.45.
Minister for Pensions Steve Webb said:
Ministers also confirmed that support for disabled people will be protected with a 5.2% increase to their benefits.
Read more…..
Amanda Frewin
Research & Project Support