Half a million pensioners will miss out on 'higher than expected' state pension rise

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INFLATION is continuing to rise in the UK as a result of the current energy crisis, and increased inflation will mean the value of the state pension will also grow. However, half a million people will not reap the benefits as their income remains frozen.

The Government opted to suspend the state pension triple lock for the 2022/23 tax year in order to avoid a steep rise in the value of state pension, but based on the latest estimates around inflation, it appears that their efforts to keep state pension down may be thwarted.

 

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