Default Inflation / Growth Rates - National Average Earnings

The National Average Earnings (NAE) preference is used as the default rate of income inflation for Employment and Other Income.



NAE is also used to escalate future UK State Pension benefits as part of the Triple Lock formula, whereby State Pension is escalated by the higher of NAE, CPI or 2.5% per annum.


This default setting can be overridden for any individual Employment earnings or Other Income in the plan by adjusting the growth rate. Example below.