State pension set to rise 2.6% as inflation falls below expectations

September CPI at 2.4%

Julian Marr
clock
"With inflation returning to the economy, the value of protection against rising prices is not to be underestimated" - AJ Bell's Tom Selby
Image:

"With inflation returning to the economy, the value of protection against rising prices is not to be underestimated" - AJ Bell's Tom Selby

With inflation coming in below expectations in September, the state pension is set to rise 2.6% from April next year - slightly below the 3% increase seen in both 2017 and 2018.

The Office for National Statistics today confirmed Consumer Prices Index (CPI) inflation stood at 2.4% in September. It is the September figure that is used to set the so-called ‘triple-lock', which guarantees...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Rachel Vahey: "The worry is that instead of tackling the issues head-on, the FRC's proposals are just making a bad situation worse."

Rachel Vahey: DC pension illustration reform 'going from bad to worse'

Statutory Money Purchase Illustrations

Rachel Vahey
clock 26 May 2022 • 3 min read
Regulators TPR and FCA to develop common VfM measurements

Regulators TPR and FCA to develop common VfM measurements

Greater transparency to deliver more secure retirements

Holly Roach
clock 24 May 2022 • 2 min read
"HMRC's statistics continue to provide useful snapshots of the personal pension world, although I suspect there are some more unusual figures to come as we get a full picture of how things changed over the last couple of years." - Jessica List

Jessica List: Painting pensions by numbers

HMRC recently released a range of statistics relating to personal and stakeholder pensions. Below Jessica List summarises the highlights and what they may mean for advisers’ clients...

Jessica List
clock 24 May 2022 • 4 min read