Comments

People on the full New State Pension could see payments rise by over £500 next year under the Triple Lock as earnings growth (4.7% including bonuses) outpaces the current rate of inflation (3.8%). The increase under the earnings growth would see weekly payments of the New State Pension rise to up to £241.05 and £184.75 for those on the Basic State Pension. ‌

Under the Triple Lock , State Pensions increase each year in-line with whichever is the highest of average annual earnings growth from May to July, Consumer Price Index inflation rate (CPI) in the year to September or 2.5 per cent. ‌

There are 13 million people of State Pension age in the UK, however, the amount someone receives depends on their National Insurance contributions . To receive the full, new State Pen

See Full Page