Donald John Trump (born June 14, 1946) is the 45th and current president of the United States. Before entering politics, he was a businessman and television personality. Trump was born and raised in the New York City borough of Queens, and received a bachelor's degree in economics from the Wharton School. He took charge of his family's real-estate business in 1971, renamed it The Trump Organization, and expanded its operations from Queens and Brooklyn into Manhattan.
The company built or renovated skyscrapers, hotels, casinos, and golf courses. Trump later started various side ventures, mostly by licensing his name. He owned the Miss Universe and Miss USA beauty pageants from 1996 to 2015, and produced and hosted The Apprentice, a reality television show, from 2003 to 2015. Forbes estimates his net worth to be $3.1 billion.
State Pension payments could rise by more than £1,000 over the next five years
dailyrecord.co.ukOver the next five years, more than 12 million people over 66 could see their State Pension increase by over a £1,000 as a result of the Labour Government’s commitment to the Triple Lock.
Under the Triple Lock 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, the Consumer Price Index (CPI) inflation rate in the year to September, or 2.5 per cent.The latest figures from the Office for National Statistics (ONS) show average regular earnings growth is currently 4.5 per cent (including bonuses) in the three months to June, which makes it the leading driver for next April’s State Pension uprating.
However, the figure that will be considered as part of the Triple Lock won’t be published until September 10 and not officially confirmed until the Autumn Budget on October 30.An increase of 4.5 per cern would see the full New State Pension rise from £11,502 per year to £12,019 in 2025, taking it closer to the personal tax allowance threshold of £12,570.
The personal allowance is set to remain frozen until 2028, which means further upratings under the Triple Lock will see more pensioners pay tax in retirement.Of the 12.7 million people in receipt of the State Pension, some 8.1m (64%) currently pay tax in retirement, largely due to additional income from workplace or private pensions on top of their State Pension.
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