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The Old State Pension, consisting of the Basic State Pension (alongside the Graduated Retirement Benefit, the State Earnings-Related Pension Scheme, and the State Second Pension; collectively known as Additional State Pension), is a benefit payable to men born before 6 April 1951, and to women born before 6 April 1953.
Following the passage of the Old Age Pensions Act 1908 a pension of 5/— per week (£0.25, equivalent, using the Consumer Price Index, to £33 in 2023), [2] or 7/6 per week (£0.38, equivalent to £49/week in 2023) for a married couple, was payable to persons with an income below £21 per annum (equivalent to £2800 in 2023); the qualifying ...
Jeremy Hunt reinstated ‘triple lock’ in Autumn Statement and pledged increase in line with CPI measure of inflation to provide boost amid cost of living crisis
Pie chart of UK government spending, 2023-24. [2]The most significant area of government spending is welfare (£341 billion in financial year 2023-24), [2] with the largest single element of this being for the State Pension, which totals £124 billion.
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The ONS said total wage growth went up 4% in the three months to July, putting pensioners on track for a rise in their annual pensions to £11,962.60. State pension set to rise by £460 next April ...
The Immigration (Leave to Enter and Remain) (Amendment) Order 2023 112: The State Immunity Act 1978 (Remedial) Order 2023 113: The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2023 114: The Air Navigation (Restriction of Flying) (Aintree) Regulations 2023 115 (C. 10)
Workplace pensions thresholds under automatic enrolment will remain at their current levels in 2023-24, as households balance saving for their future with day-to-day living costs.