Millions of older people are set for an annual increase of 8.5 per cent in April under the Triple Lock.
A new online petition is calling on the UK Government to ‘honour the Triple Lock in full in April 2024’ ahead of the annual State Pension uprating announcement to be made during the Autumn Statement next month.
The petition, posted on the petitions-parliament website states: “The Conservative Party's manifesto promised to keep the Triple Lock. This increases State Pension by the highest of inflation, wage growth or 2.5%. Headline wage growth was 8.5% in May to July 2023, but there is speculation that the UK Government might use a lower figure. The full increase should apply.
At 10,000 signatures of support, the UK Government will respond to this petition which you can read in full here. He added: “But I think it needs to be a very exceptional circumstance where people can see that there’s a very good reason.” “We decided not to. So I think hopefully that indicates to you the priority with which we give that particular policy.”
Those on the maximum Basic State Pension would see payments rise from the current £156.20 a week to £168.40 under an uprating of 7.8 per cent and £169.50 with 8.5 per cent.
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