State pension to increase by inflation-beating £460 next year

From April 2025 the full new state pension will increase from £221.20 per week (£11,502 per year) to £230.05 per week (£11,963 per year). The old state pension will increase from £169.50 per week (£8,814 per year) to £176.30 per week (£9,168 per year). The projected rise was revealed today (10 September) following confirmation from the Office for National Statistics (ONS) that the average growth in earnings for July was 4%. Under the triple lock the state pension increases each year by either 2.5%, inflation, or average earnings growth - whichever is the highest figure. AJ Bell ...