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DWP new State Pension to rise almost £500 to more than £13,000 a year
The rise would add about £488.80 a year to the full new State Pension, lifting payments above £13,000 for the first time.
- In his first Budget, Chancellor John Healey confirmed the State Pension will rise 3.9% next April under the Triple Lock, with millions of recipients on course for a pay increase.
- The Triple Lock ensures the State Pension rises annually by whichever is highest: average earnings growth, inflation, or 2.5%, guaranteeing pensioners receive the most favorable rate.
- Weekly payments for the Full State Pension will rise by £9.40 to £250.70, pushing the annual total past £13,000 for the first time.
- Official figures from the Office for National Statistics showed average earnings growth of 3.9%, which outpaced the 3.5% Consumer Price Index inflation rate.
- Labour has pledged to maintain the Triple Lock for the duration of the current Parliament, securing pension protections for eligible recipients throughout the coming years.
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Leaning Left1Leaning Right1Center21Last UpdatedBias Distribution91% Center
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- 91% of the sources are Center
91% Center
C 91%
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