UK. Benefits and state pension increase outpaced by rising prices
A 3.1% rise in the state pension and various benefits has now taken effect but charities have warned it fails to tackle cost of living pressures.
Official figures show that prices are rising twice as fast, and they are expected accelerate further.
The government said it recognised people’s difficulties and was helping.
Late last year, ministers decided to temporarily cut the state pension’s link to average earnings, which would have led to an 8% rise now.
They have pledged to reinstate the so-called pension “triple lock” in future years.
This increase in the cost of living is measured by the rate of inflation, which official forecasters expect to peak at close to 9% later this year owing mostly to more expensive gas and electricity bills.
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