Overview
- The Department for Work and Pensions is preparing a 4.8% uplift from next April, taking the full new state pension to about £241.30 a week, or roughly £12,548 a year.
- Labour is reported to be honoring its Triple Lock pledge, which raises the state pension by the highest of inflation, average earnings growth, or 2.5%.
- Experts say the increase may tip more pensioners over the £12,570 personal tax allowance that has been unchanged since 2020–21.
- AJ Bell cautions that rising state pension costs could bring renewed scrutiny of the Triple Lock’s long‑term sustainability.
- Ipsos research for Standard Life found only 29% of people expect the Triple Lock to endure to their retirement, as wider concerns about funding persist alongside unemployment at 5% in the three months to September.