State Pension rise 2024/2025 story

GibbsRule_No3.

Is it me being cynical that on the day of PMQs, when Labour will be questioned on removing WFA from a lot of OAPs we get a story about the expected rise for 2024/2025? I assume the £400 being mentioned is for people who meet a certain criteria and others will get a reduced % depending on different things? Is this rise based on a different part of the Triple Lock than the current years rise?  I was confused as it sounds like it is based on wage rises this time.

I’m hoping this does not infringe the Political rules and is a question about the story and ruling for how the new rise works for next year.

flaneurs_lobster

Here's a link to the BBC story

https://www.bbc.co.uk/news/articles/cewlqxv0n1qo?xtor=ES-208-[76947_NEWS_NLB_ABC_3_WK36__WEDS_4_SEPT.html]-20240904-[bbcnews_statepensionboosted400_newsuk]

I think you have every right to be very, er, surprised at the timing of this "revelation" 

The internal working calculations seen by the BBC reflect the near certainty that the state pension will be increased by average earnings figures released next week.

double_dutchy

I'm not sure what story you mean but the relevant average wages figures will be out next week (11 September) and are expected to be about 4.5% so, as that will be higher than CPI or 2.5% (probably) then that will dictate the pension rise according to the rules of the triple lock.

hyubh

GibbsRule_No3. said:

Is it me being cynical that on the day of PMQs, when Labour will be questioned on removing WFA from a lot of OAPs we get a story about the expected rise for 2024/2025? I assume the £400 being mentioned is for people who meet a certain criteria and others will get a reduced % depending on different things? Is this rise based on a different part of the Triple Lock than the current years rise?  I was confused as it sounds like it is based on wage rises this time.

I’m hoping this does not infringe the Political rules and is a question about the story and ruling for how the new rise works for next year.

The 'story' is nothing's changed, the so-called triple lock remains in place - last year inflation was the higher of the three, this year it's wage growth. Differences pertaining to the old state pension and 'protected payments' under the new remain as they were.

flaneurs_lobster

hyubh said:

GibbsRule_No3. said:

Is it me being cynical that on the day of PMQs, when Labour will be questioned on removing WFA from a lot of OAPs we get a story about the expected rise for 2024/2025? I assume the £400 being mentioned is for people who meet a certain criteria and others will get a reduced % depending on different things? Is this rise based on a different part of the Triple Lock than the current years rise?  I was confused as it sounds like it is based on wage rises this time.

I’m hoping this does not infringe the Political rules and is a question about the story and ruling for how the new rise works for next year.

The 'story' is nothing's changed, the so-called triple lock remains in place - last year inflation was the higher of the three, this year it's wage growth. Differences pertaining to the old state pension and 'protected payments' under the new remain as they were.

So why is the story featuring today rather than later in the month when the actual average earnings numbers are released?

hyubh

flaneurs_lobster said:

hyubh said:

GibbsRule_No3. said:

Is it me being cynical that on the day of PMQs, when Labour will be questioned on removing WFA from a lot of OAPs we get a story about the expected rise for 2024/2025? I assume the £400 being mentioned is for people who meet a certain criteria and others will get a reduced % depending on different things? Is this rise based on a different part of the Triple Lock than the current years rise?  I was confused as it sounds like it is based on wage rises this time.

I’m hoping this does not infringe the Political rules and is a question about the story and ruling for how the new rise works for next year.

The 'story' is nothing's changed, the so-called triple lock remains in place - last year inflation was the higher of the three, this year it's wage growth. Differences pertaining to the old state pension and 'protected payments' under the new remain as they were.

So why is the story featuring today rather than later in the month when the actual average earnings numbers are released?

Presumably to counteract the bad vibes around the winter fuel allowance, as the OP surmised. So what though? There's no actual change in the state pension being announced or even suggested.

Flugelhorn

this sounds like - you don't need the WFA because we are giving you exactly what you would have got under the current rules next year 

westv

Sounds like a "good story" leak.

pterri

Sounds like journalists doing their job and looking at what may happen in the very near future. Not everything is a conspiracy. I for one am glad, hopefully it will still be there when I claim and Labour have committed the triple lock for this parliament (so five years). No need for any efficiency gains for pensioners either, result. 

Every year financial journalists try and second guess what the updating will be. This isn’t new.  

Sunnylifeover50plan

Those of us who deal or dealt with sensitive information were told of the classification of the information when it was released to us. If it were confidential then we would keep it so. Governments and the civil service departments have never, seemingly, been constrained by such controls.

Hoenir

At least this is real news and not social media speculation.