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International Restructuring Newswire
Welcome to the Q2 2025 edition of the Norton Rose Fulbright International Restructuring Newswire.
Office for National Statistics announces CPI increase of 6.7 per cent
United Kingdom | Publication | October 2023
On October 18, 2023, the ONS announced that the Consumer Prices Index had risen by 6.7 per cent in the 12 months to September 2023. This is the figure by which SERPS and S2P should rise next April.
Average weekly earnings have risen by 8.5 per cent. If the triple lock continues to apply, the Basic State Pension and the Single Tier State Pension should increase by 8.5 per cent, as it is higher than the CPI figure and 2.5 per cent.
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Upcoming deadlines for complying with federal pay equity legislation
Another compliance deadline is approaching under the federal Pay Equity Act – federally regulated employers are required to file an annual statement with the Office of the Pay Equity Commissioner on or before June 30, 2025, if they posted a pay equity plan in the previous year.
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