courteneyhager

The state pension triple lock is set to be adjusted under new proposals. The triple lock was introduced by the coalition government in 2010 with the goal of raising the value of the basic state pension as a proportion of average earnings. It currently requires the old and new state pension (but not any other state pension components) to increase each April by the greater of: · Yearly consumer price index (CPI) inflation to the previous September; · The annual growth in average earnings...

Further details have emerged about the potential impact of the ‘mansion tax’ announced in the last Budget. Rachel Reeves’ first two Budgets have so far featured announcements of tax-raising measures with delayed starting dates. For example, the controversial changes to inheritance tax (IHT) business and agricultural relief emerged in October 2024 but have only just taken effect. Similarly, bringing pensions within the scope of IHT was announced at the same time, but will not commence until 6...

Emergency cash, Rainy day funds