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State pension payments will change next month | Personal Finance | Finance

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Recently, all profit payments awarded by the DWP were increased by 3.1 percent, the identical rate of Consumer Price Index (CPI) inflation from September last yr.

This has proven to be controversial as inflation within the UK has recently hit a 40-year high of nine percent as of last week.

Because of this of this, recipients of the state pension won’t see their payment rise at the identical rate as the rise in the fee of living.

Steven Cameron, a pensions director at Aegon, noted that older Britons usually tend to be in danger from the specter of inflation.

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