Oh, for the pleasure of enjoying a rise of 0.05% in our annual State Pensions
Those of us who have earned our state pensions through long service of paying National Insurance and taxes will wonder at the scale of the perceived conspiracy that enabled all our local authority bodies, WLBC, LCC, Police, to combine to add 3.85% to our bills, on the day we pensioners received the official “Information about State Pension, Widows Benefit etc” that “From 6 April 2020 the weekly amount of the basic State Pension or new State Pension will increase by 3.9%”.
The rise is thanks to the triple-lock system, which states that the state pension must rise by September’s price inflation, average earnings growth or 2.5% – whichever is higher. In this case, the state pension will be matching the 3.9% average earnings increase seen by UK workers in July last year. However, cuts of up to £70 a week will also come into force this year, which could vastly outweigh the pension increases.
But fear not, the amazing Age Addition, £0.25p for those of us aged 80 and over retains its full value, if you will pardon my sarcasm!