View Image

State pensioners will wake up to £120 more than expected from the Department for Work and Pensions ( DWP ). State pensioners will receive an above-inflation increase of more than £550 a year from April under the Labour Party government’s triple lock commitment.

The change will mean retirees receive up to £120 more than they would have if payments had risen in line with inflation alone. Around 13 million pensioners will benefit from the decision which follows weeks of speculation.

People on the full new state pension will receive more than £550 a year extra. Those on the full basic state pension will receive around £440. Labour Party Chancellor Rachel Reeves has said the rise reflects the Government’s promise to give pensioners security in retirement.

READ MORE Drivers fa

See Full Page