PensionsOct 15 2024

Chancellor receives ‘unwelcome’ £100mn state pension bill

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Chancellor receives ‘unwelcome’ £100mn state pension bill
“A slightly higher rate of increase is welcome for pensioners, though will be an unwelcome £100mn extra cost for the Chancellor as she prepares her budget." (Photo: Ivan Samkov/Pexels)
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The Office for National Statistics’s upward revision of earning figures will saddle Rachel Reeves with an “unwelcome” extra £100mn bill for the state pension rise next year, according to LCP partner, Steve Webb.

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