Nearly half a million older people due to miss out on annual State Pension pay rise next April
dailyrecord.co.ukChancellor Rachel Reeves confirmed during the Autumn Budget on Wednesday that millions of people over State Pension age will see their weekly payments rise by 4.1 per cent next April under the Triple Lock.
The policy ensures that the New and Basic State Pensions increase each year in-line with whichever is the highest between the average annual earnings growth from May to July (4.1%), Consumer Price Index (CPI) inflation rate in the year to September (1.7%), or 2.5 per cent.However, Ms Reeves made no mention of uprating some 453,000 ‘frozen’ State Pensions for British nationals living abroad in retirement who will miss out on a financial boost of up to £470 during the 2025/26 financial year.
Many of these pensioners will not be due the uprating because they have chosen to spend retirement abroad in a country that does not have a reciprocal agreement with the UK Government.
Many have seen their State Pension payments ‘frozen’ at the point of emigration. Despite fierce campaigning to encourage the UK Government to bring State Pensions into line with current payment rates and restore the Triple Lock, the Chancellor only confirmed the 4.1 per cent increase to the contributory benefit.This follows on from a response made by Pensions Minister Emma Reynolds last week, when she said that the Department for Work and Pensions (DWP) “is not negotiating any reciprocal social security agreements”.
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