The September CPI inflation rate will be announced on Wednesday and is a key measure of the Triple Lock.
The September Consumer Price Index inflation rate will be announced on Wednesday, October 18 and forms part of the Triple Lock policy which is used for the annual State Pension uprating. Under the Triple Lock, the State Pension increases each year in line with whichever of these three measures are the highest - average annual earnings growth from May to July , CPI inflation in the year to September or 2.5 per cent.
The New State Pension is currently worth up to £203.85 per week. Uprating using the lower wages growth figure would see people receive up to £219.75 each week, while under the 8.5 per cent figure it would be up to £221.20. Top Money Stories Today Estimated State Pension payments from April 2024 The estimated calculations show the current annual rates for the full New and full Basic State Pensions. The 'monthly payment' calculated below refers to every four weeks, there are 13 payments made throughout the year.
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