The annual State Pension uprating is due to be announced later this month.
Chancellor Jeremy Hunt is expected to confirm the State Pension uprating for the next financial year during his Autumn Statement in Parliament on November 22.The State Pension increase is usually linked to the Triple Lock and could see millions of older people receive a payment boost of 8.5 per cent.
The CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations warned earlier this year that hundreds of thousands of Brits living abroad in retirement missed out on the 2023/24 State Pension uprating. Top Money Stories Today Commenting recently on the 2023/24 State Pension uprating, Mr Green said: “An estimated 500,000 retired Brits who live abroad will not receive any boost at all. Outrageously, they will continue to have their pensions frozen in value at the point of retirement date or date of emigration.
However, Mr Green explained that the majority of affected State Pensioners live in some of the biggest Commonwealth countries - such as Australia and Canada - and, despite paying taxes all their working lives in the UK, and National Insurance contributions in full, these Brits will miss out on the uprating.
Latest State Pension News Estimated State Pension payments from April 2024 The estimated calculations show the current annual rates for the full New and Basic State Pensions. The 'monthly payment' calculated below refers to every four weeks, there are 13 payments made throughout the year.
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