Autumn Statement 22: All quiet on the pensions front

Pre-statement speculation on LTA did not come to pass

Jenna Brown
clock • 6 min read

Jeremy Hunt avoided tinkering with pension rules in his fiscal speech as chancellor, with almost the only mention being the reinstatement of the triple lock on state retirement benefits.

Millions of state pensioners will see their payments increase by just over 10% in April when the triple lock - the mechanism by which increases are determined - will be reinstated from its lower ‘double lock' currently in force. Hunt said today (17 November) that the largest-ever increase to the state pensions meant "this government is on your side". Retention of the policy was a Conservative Party manifesto commitment. It has, however, been the topic of much debate over affordability. M&G Wealth head of technical Les Cameron said: "Confirmation that the state pension is to be upra...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

IHT shake-up: What will come of SSAS discretionary death benefits?

IHT shake-up: What will come of SSAS discretionary death benefits?

'Essential that issues are addressed and rectified in the draft rules'

Caitlin Southall
clock 17 February 2025 • 4 min read
WBR Group acquires £403m SSAS book from Standard Life

WBR Group acquires £403m SSAS book from Standard Life

Administered SL's SSAS book for more than 20 years

Jenna Brown
clock 13 February 2025 • 1 min read
'Strong case' for automatic consolidation of small pensions, IFS argues

'Strong case' for automatic consolidation of small pensions, IFS argues

Think tank calls on the government to ‘end and reverse’ the proliferation of small pots

Holly Roach
clock 12 February 2025 • 4 min read