![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/three-changes-for-pensioners-announced-in-todays-autumn-statement/&media=https://uknews.evprotec.com/wp-content/uploads/2022/11/RM-jeremy-hunt-op.jpg&description=CHANCELLOR Jeremy Hunt has unveiled three big changes that will affect pensions in today's Autumn Statement. Speaking in the House of Commons, Mr Hunt delivered his Budget, announcing a series of spending cuts and tax rises. Chancellor Jeremy Hunt revealed money changes that will affect retireesCredit: PA In his Autumn Statement Mr Hunt set out a plan 'to tackle the cost of living crisis and rebuild our economy'. Mr Hunt said his priorities are for "stability, growth and public services." He said: "There is a global energy, inflation and economic crisis. But the British people are tough, inventive and resourceful. "We aren't immune to the headwinds, but with this plan for stability, growth and public services we will face into the storm." Within that plan were several changes for pensioners - here's what they are and how they'll affect you. Pension triple lock to stay Mr Hunt also confirmed that the pensions triple lock would stay. This means millions of pensioners will see an up to £870 rise in their state pension payments next April. Mr Hunt said: "I can today announce that we will fulfil our pledge to the country to protect the pensions triple lock." He added: "To the millions of pensioners who will benefit from this measure I say – now and always, this government is on your side." The £870 state pension increase has been made in line with September's inflation figures. These were released last month and showed that inflation has now returned to a 40-year high of 10.1%. The triple lock on pensions means pensioners are guaranteed a pay rise every year. It was introduced by the coalition government in 2010 and sees pension payments increase in line with whichever of the following is highest: Earnings – the average percentage growth in wages in Great Britain Prices – the rising cost of living in the UK, as measured by the Consumer Prices Index (CPI) 2.5% The triple lock means the pension payments will rise in 2023 by whichever is highest: earnings, inflation or 2.){kind=link}
CHANCELLOR Jeremy Hunt has unveiled three big changes that will affect pensions in today’s Autumn Statement.
Speaking in the House of Commons, Mr Hunt delivered his Budget, announcing a series of spending cuts and tax rises.
In his Autumn Statement Mr Hunt set out a plan “to tackle the cost of living crisis and rebuild our economy”.
Mr Hunt said his priorities are for “stability, growth and public services.”
He said: “There is a global energy, inflation and economic crisis. But the British people are tough, inventive and resourceful.