Question to the Department for Work and Pensions:
To ask His Majesty's Government what percentage of median earnings will be the target for pensioners to receive when considering further changes to pension upratings post 2030, if an uplift in line with inflation or 2.5 per cent is deemed not sufficient in a given year.
From April 2030, the basic State Pension and the full rate of the new State Pension will rise each year by the highest of inflation (the rise in the consumer price index), 2.5% or the amount required to return or maintain the value of the State Pension relative to earnings in 2029/30.