UK Pension Transfer Specialists

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Queen’s Speech Reconfirms State Pension Triple-Lock

The Queen’s Speech on 27 May 2015 reconfirmed the government’s commitment to the UK state pension remaining “triple-locked” until the end of this Parliament in 2020. This means that a person’s UK state pension will increase annually by the highest of earnings growth, inflation or 2.5 percent.

The Department of Work and Pensions has also confirmed that the triple-lock will apply to the new flat rate state pension that will be introduced in April 2016.

Photo Credit:
“The Queen at the State Opening 2009” is copyright © 2009 UK Parliament and made available under CC BY-NC-ND 2.0