But after the pandemic wages have shot up, by around eight per cent, which would have meant the Chancellor having to find billions of pounds extra to fund pensions.Work and Pensions boss Therese Coffey made the statement today in the House of Commons after theShe told MPs: "This year I anticipate an unusual change in earnings thanks to the impact of the Covid pandemic.
"It will set aside the earnings element for 2022/3 before being restored for the end of this Parliament." The Bank of England and most City economists ave forecast that inflation will rise to about 3 per cent over the rest of the year - it's currently around 2.5 per cent.
Fair enough
What happens with their pensions?
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