An inflation-busting rise in payments is likely to reignite debate about the system introduced in 2011
The full new state pension looks likely to increase by almost £11 to £241 a week from next April – equating to £12,534 a year – as a result of the triple lock, the latest wage growth figures suggest.
The inflation-busting 4.7% or £560-a-year rise will need to be confirmed by the government. It is likely to reignite debate about the affordability of the triple lock, and poses questions about the standard tax-free personal allowance, which stands at £12,570.
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