State Retirement Pensions

(asked on 15th September 2021) - View Source

Question to the Department for Work and Pensions:

To ask Her Majesty's Government what plans they have to take the Consumer Price Index into account when calculating the state pension for 2022–23.


Answered by
Baroness Stedman-Scott Portrait
Baroness Stedman-Scott
Opposition Whip (Lords)
This question was answered on 22nd September 2021

The Government has introduced the Social Security (Up-rating of Benefits) Bill which will enable State Pensions (the basic State Pension, the new State Pension and Pension Credit) to be uprated for 2022/23 only by at least the higher of the increase in prices or 2.5%.

Decisions on up-rating for all pensions and benefit rates are made in the Autumn as part of the up-rating review by the Secretary of State for Work and Pensions and announced ahead of the up-rating of benefits in April 2022. The conventional measure of price increases used for up-rating is September to September Consumer Price Index, this is released in October.

Reticulating Splines