State Pension Boost: A Mixed Blessing

On November eleventh, the Department for Work and Pensions is set to boost payments for new state pensioners by around four point eight percent, thanks to the Triple Lock policy. This could mean an extra two hundred forty-one pounds and thirty pence per week for those receiving the full new state pension. However, this increase might push some pensioners closer to paying income tax, as the personal allowance has remained unchanged. The future of the Triple Lock is also uncertain, with research showing that fewer than one-third of people believe it will still be in place when they retire. DNN | The Daily News Now! The world’s first global local news network. Every city. Every story. AI powered. Hosted on Acast. See acast.com/privacy for more information.