State pension likely to rise by 4.7% after latest figures

The authorities pension is apt to emergence by 4.7% successful April, aft the latest authoritative figures showed this was the gait of wage growth.

The pension is determined by the triple lock, which means it volition emergence each twelvemonth by whichever is highest: ostentation successful September, mean play net up to July oregon 2.5%.

Inflation successful September is expected to beryllium 4% by the Bank of England, meaning wage information for the 3 months to July, released by the Office for National Statistics (ONS), is acceptable to beryllium the highest figure.

Government retains power of pension increases and, contempt commitments, could determine not to abide by the triple lock.

The caller pension sum would commencement being paid successful April.

This breaking quality communicative is being updated and much details volition beryllium published shortly.

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