Full state pension will top £13,000 next April and break through the frozen tax allowance for the first time
Pensioners face an income tax bill for the first time as the full new state pension rises to £250.70 a week — above the frozen personal allowance — with Chancellor John Healey expected to confirm the rates at the Budget…
Wage growth of 3.9 per cent outpaced September's 3.5 per cent inflation figure, pushing the full new state pension up £9.40 a week to £250.70. Pensioners are still awaiting one key detail. Chancellor John Healey is expected to formally confirm the new rates at the Budget on October 28.
Prime Minister Andy Burnham plans to ditch the triple lock for a double lock from April 2030.
Kemi Badenoch has attacked Burnham's proposal to reduce the value of the state pension.
The old basic state pension will rise £7.20 a week to £192.10.
