State pension will rise 3.9% to top £13,000 for the first time, breaching the frozen £12,570 tax threshold
From next April, the full new state pension will climb from £241.30 to £250.70 a week. September's inflation reading of 3.5% was overtaken by wage growth of 3.9%, making earnings the measure that triggers the triple lock increase. Ministers have promised that those relying solely on the state pension for their income will not be liable for income tax, though no detail has yet been given on how this will be delivered. Chancellor John Healey is expected to address the gap in his Budget on October 28.
Prime Minister Andy Burnham intends to scrap the triple lock from April 2030.
Kemi Badenoch attacked Burnham for seeking to diminish the value of the state pension.
AJ Bell's Rachel Vahey says the rise leaves the personal allowance 'trailing in its wake'.
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Daily MailFull state pension will increase 3.9% to £250.70 a week next springThe IndependentState pensioners to receive £500 triple lock boost in 2027The IndependentHow the triple lock will push full state pension to over £13,000 next yearLBCFull new state pension set to top £13,000 under triple lock guaranteeThe SunExact amount YOUR state pension will rise next year confirmed as Labour set to axe triple lockThe 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 NewsDaily RecordFull list of New and Basic State Pension weekly payment rates from April - Daily RecordIFA MagazineState pension set for earnings-linked triple lock boost to exceed £13,000 from April - IFA MagazineSlough ObserverFull new state pension set to top £13,000 under triple lock guarantee - Slough Observer
