US EditionHow much could your state pension increase by next year?
The Triple Lock will raise State Pensions by up to 5%, benefiting nearly 13 million pensioners across Great Britain with a potential £478 annual boost, officials said.
- Later this year, the Office for National Statistics will publish the earnings growth figure on September 16 and CPI data in mid-October, which feed into the Triple Lock guarantee affecting nearly 13 million State Pensioners across Great Britain.
- Under the Triple Lock, State Pensions rise annually based on the highest of average earnings growth from May to July, CPI inflation to September or 2.5%, with earnings growth at 5.0.
- Earnings growth data reveal the UK average regular earnings remained at 5.0 and was 1.5 higher after CPI inflation in the three months to June.
- Guidance on GOV.UK warns you pay tax if your income exceeds the Personal Allowance, which a 2.5% increase could push the full New State Pension above the threshold.
- As the Autumn Budget approaches, pensioners and those due to retire next year can start planning their finances by following the Triple Lock measurements.
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In 2026, there could be more money for pensioners – initial forecasts are available. However, how high the increase will be will only be decided next year:
Coverage Details
Total News Sources34
Leaning Left2Leaning Right0Center25Last UpdatedBias Distribution93% Center
Bias Distribution
- 93% of the sources are Center
93% Center
C 93%
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