Government may link social welfare and state pensions to a cost of living indicator
Indexation, which is currently ‘under active consideration’, would involve the benchmarking of core welfare and state pension rates to a cost of living indicator, such as the Consumer Price Index
The government is actively examining the indexation of social welfare payments and the state pension in a move that would remove the power to increase them from the political discretion of governments.
Indexation would involve the benchmarking of core welfare and state pension rates to a cost of living indicator, such as the Consumer Price Index (CPI) or average wage growth, meaning rates would automatically rise and fall in line with this index.
During the ...