The state pension will rise by more than £500 next year after Pat McFadden confirmed the Government will keep the triple lock in place for the rest of the Parliament.

The work and pensions secretary said Labour would stick to its election promise to protect pension increases, meaning payments will go up in line with whichever is highest out of inflation, average earnings growth or 2.5 per cent.

Figures published by the Office for National Statistics this morning showed that total pay, including bonuses, grew by 4.7 per cent between May and July. That measure is used to calculate the triple lock, meaning state pensions will increase by at least that amount from April. New Feature

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A 4.7 per cent rise would see the full new state pensio

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