Will the Government keep its state pension triple lock promise this time?
Aug 26, 2022•49 min
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Episode description
Inflation is soaring and if predictions are correct, it would result in the Consumer Prices Index measure hitting 13 per cent this autumn.
That could result in a state pension rise of around £1,000 a year to £10,900 while even at the current level of 10.1 per cent it would be upped to £10,600.
However, last year, the triple lock was scrapped. Would a new Prime Minister dare do the same this time around? Lee Boyce, Tanya Jefferies and Georgie Frost discuss.
Inflation is hitting those with pensions in different ways, we explain how and Tanya unearths yet more errors at the DWP.
She explains why – if you, or someone you know, was refused a state pension or given an unexpectedly low award when you turned 66 – it could be worth challenging.
Data also suggests that some workers are opting out of private pensions or reducing contributions thanks to the rise in the cost-of-living. Is that a wise decision?
Outside of pensions, we had calculations this week that inflation predictions are undercooked and could actually peak at 18.6 per cent early next year, with base rate having to reach 7 per cent to stop it.
It comes as the energy price cap is now forecast to reach £5,500 in April 2023.
And finally… the number of homes available to rent has halved in two years pushing prices through the roof.
According to research, tenants are effectively losing a bedroom if they spend the same amount of money today on a property compared to two years ago. What next for the rental market?
That could result in a state pension rise of around £1,000 a year to £10,900 while even at the current level of 10.1 per cent it would be upped to £10,600.
However, last year, the triple lock was scrapped. Would a new Prime Minister dare do the same this time around? Lee Boyce, Tanya Jefferies and Georgie Frost discuss.
Inflation is hitting those with pensions in different ways, we explain how and Tanya unearths yet more errors at the DWP.
She explains why – if you, or someone you know, was refused a state pension or given an unexpectedly low award when you turned 66 – it could be worth challenging.
Data also suggests that some workers are opting out of private pensions or reducing contributions thanks to the rise in the cost-of-living. Is that a wise decision?
Outside of pensions, we had calculations this week that inflation predictions are undercooked and could actually peak at 18.6 per cent early next year, with base rate having to reach 7 per cent to stop it.
It comes as the energy price cap is now forecast to reach £5,500 in April 2023.
And finally… the number of homes available to rent has halved in two years pushing prices through the roof.
According to research, tenants are effectively losing a bedroom if they spend the same amount of money today on a property compared to two years ago. What next for the rental market?
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Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane
Producer: Georgie Frost
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