State Pension Annual Increase

Silvertabby

MX5huggy said:

Madrick said:

squirrelpie said:

Madrick said:

MX5huggy said:

Yes, is there a question in there? 

Sorry, I  left out the?  Cheers

Still not quite sure what question you were asking, so don't be too thankful.

"So therefore no matter what happens, the state pension will always increase by at least 2.5%." 


Was my question, which was answered
Thanks 👍

Until there is a change in the law at least, if there was a sustained period of deflation which hasn’t happened since the 1920’s it would be unsustainable.

How very remiss of the Tories to include the triple lock in their manifesto without the rider:

"In the event of an unforeseen global pandemic, which knocks the whole world on its a.r.s.e and eventually leads to a false surge in salaries, we reserve the right to apply common sense and use the average of 2 or 3 years increases instead of the one year's artificially inflated increase".

jamesd

Add Labour and Liberal * to that list, since they all accepted the simple version.

Considering just how much the Chancellor has agreed to spend during Covid I think it's understandable if he does't want this added to the list. On the other hand, quite a lot of pensioners died of Covid so there's perhaps some reduced spending gain there, if the lower flu deaths don't compensate for it. Maybe that'd allow it to be accepted for the duration of the manifesto.

Notepad_Phil

I seem to remember reading that there was no specific detailed method by which salary rises were to be calculated, so I assume the Chancellor has a lot of latitude on how he can interpret the figures - though no doubt there will be grumbles regardless of how the figure is calculated.

molerat

There has been a real increase in wages and ONS have a chart for it which is the increase for those in continuous employment.  That though may still be unpalatable for some as it is running at around 4%.

NedS

molerat said:

There has been a real increase in wages and ONS have a chart for it which is the increase for those in continuous employment.  That though may still be unpalatable for some as it is running at around 4%.

Pretty unpalatable for public sector workers on pay freezes, that's for sure!

xylophone

https://www.thetimes.co.uk/money-mentor/article/state-pension-predictions/

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/averageweeklyearningsingreatbritain/august2021

may be of interest.