Half a million older people will not be due new State Pension pay rates next month

dailyrecord.co.uk:

Millions of people claiming their State Pension can look forward to an inflation-busting boost next month when payments rise by 8.5 per cent from April 8, 2024.

Under the wages growth measure of the Triple Lock policy, those on the full New State Pension can expect an annual increase of £902, while those on the full Basic State Pension will see an uplift of £692.

However, while the annual uprating will be welcomed by more than 12m pensioners across the UK, nearly 500,000 older people will not qualify for any increase to their payments - even though they have accrued the required amount of National Insurance contributions before taking retirement.This is because they have chosen to move abroad in retirement and the country they are living in does not have a reciprocal agreement with the UK Government.

This means that some retirees have seen their State Pension frozen at the point of emigration. However, the ‘End Frozen Pensions’ campaign aims to end the “injustice of pensions for Britons who have moved abroad” who do not receive the annual increase in line with the Triple Lock policy.Under the Triple Lock, the State Pension increases each year by whichever is the highest between average annual earnings growth from May to July, the Consumer Price Index (CPI) inflation rate in the year to September or 2.5 per cent.The campaign, run by the International Consortium of British Pensioners, advocates on behalf of around 450,000 Britons affected by ‘frozen pensions’ and has a number of parliamentary supporters, including Scottish Lib Dem MPs Wendy Chamberlain and Alistair Carmichael, SNP MPs Martyn Day and Ian Blackford, Alba MPs Neale Hanvey and kenny MacAskill and several Labour and Conservative MPs.And it’s not just members