State pension payments increase each April in line with the triple lock State pension payments go up each April (Image: Getty)

State pensioners could see their payment rise by £500 or more next April. The triple lock mechanism guarantees that pensions rise annually in line with either inflation, average earnings growth, or 2.5 per cent - whichever proves highest. With the most recent inflation data showing 3.8 per cent for the year to July, the earnings measure remains on course to determine next year's state pension rise. ‌

Steven Cameron, pensions director at wealth management company Aegon , has been studying the two measures and how they have changed in recent months. He explained: "The rate of inflation has been rising over the last three months, now sitting at 3.8 pe

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