Triple lock results in 4.1% state pension rise in April

Office for National Statistics (ONS) figures showed September inflation was 1.7%. This means that under the triple lock, state pensions will increase in line with the higher rate of earnings which stood at 4.1%. The ONS confirmed average earnings growth for the three months to July earlier this week. It means that from April next year, a pensioner receiving a single state pension will get £230.30 per week (£11,975 per year) - almost £500 a year more. The ‘old' state pension will rise to £176.45 per week (£9,175 per year). Analysis from AJ Bell projected that the single state p...