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Millions of pensioners are set to get a larger-than-expected increase to their state pension next year, with the triple lock delivering a rise worth hundreds of pounds from April.

The change will mean retirees receive up to £120 more than they would have if payments had increased in line with inflation alone, reports Express.co.uk.

More than 13 million people rely on the state pension, and the latest figures reveal the increase will be driven by one specific part of the triple lock - earnings growth.

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Under the rules, payments increase each year by the highest of average wage growth, September inflation, or 2.5%.

This y

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