uk iconUK

 

 

 

Sunak considers cap to annual pension rise

British finance minister Rishi Sunak is considering blocking a near 6% rise in old-age pension payments as part of a wider effort to rein in the cost of Prime Minister Boris Johnson's spending, the Sunday Times newspaper said.

Sunak considers cap to annual pension rise
smsfadviser logo

Under a pension promise in the Conservative Party's 2019 election campaign, state pensions are meant to rise each year by the highest of the annual inflation rate, wage growth or 2.5%.

Read more at Reuters

Subscribe to Financial Accountant

Receive the latest news, opinion and features directly to your inbox