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.
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.
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2. Calculate your concessionary bus travel reimbursement
27/11/2020 - Department for Transport
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5. Social Security (Up-rating of Benefits) Bill
06/10/2021 - Bill Documents
scheduled to take place in the House of Lords.
The bill would
allow the Government to set aside the
1. Social Security (Up-rating of Benefits) Bill
13/10/2021 - Lords Chamber
1: to undertake a review of social security and state pension rates to consider whether benefits have kept - Speech Link
01/07/2019 - Lords Chamber
1: problems with the calculation of the retail price index through a series of articles by Chris Giles in - Speech Link
3. Draft Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2021 Draft Tax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations 2021
09/02/2021 - General Committees
1: with previous years, the Government are using the September consumer prices index, or CPI, figure of 0.5% - Speech Link
2: CPI. However, due to the rounding rules when calculating the lower earnings limit, this has resulted in - Speech Link
4. Social Security (Up-rating of Benefits) Bill
01/10/2020 - Commons Chamber
1: changes for one year only that will ensure that state pensions can still potentially be uprated, despite - Speech Link
1: for the 2020-21 tax year. They will allow the Government to deliver on their manifesto commitment to cut - Speech Link
2: the first time in four years. This means the Government will be spending an additional £800 million to - Speech Link
3: austerity is genuinely coming to an end, the Government should make good at least some of the loss that - Speech Link