The Newshound

Full state pension is set to top £13,000 next April, breaching the frozen tax allowance for the first time

Full state pension is set to top £13,000 next April, breaching the frozen tax allowance for the first time

September's inflation rate of 3.5% came in below the 3.9% growth in wages, meaning earnings will drive the triple lock increase. The weekly full new state pension payment will climb from £241.30 to £250.70, or £13,036 a year. The Government has said pensioners whose sole income is the state pension will remain below the income tax threshold, though no further detail has been provided. Chancellor John Healey is expected to confirm the rates at the October 28 Budget.

Kemi Badenoch has criticised Andy Burnham over Labour's proposal to cut the real value of the state pension by 2030.

More than 13 million pensioners will receive the increase, among them 1.1 million in Scotland.

AJ Bell's Rachel Vahey says the frozen allowance is left 'trailing in its wake'.

MoreEvening StandardFull new state pension set to top £13,000 under triple lock guaranteeThe TelegraphState pensioners to receive £500 triple lock boost next April - The TelegraphGB NewsState pension rise confirmed for millions of Britons: How much more will you get next year? - GB NewsAOL News UKState pension to rise by £489 in triple lock boostiNewsFull state pension confirmed to rise by nearly £500 a year from AprilDaily RecordFull list of New and Basic State Pension weekly payment rates from April - Daily RecordSlough ObserverFull new state pension set to top £13,000 under triple lock guarantee - Slough Observer
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