State pension will rise by £460 in April wage data suggests

Triple lock will result in an above average rise in pension payments next year after wages increased by 4%

State pension triple lock
(Image credit: Getty Images)

Pensioners could enjoy a pensions boost of £460 next April thanks to wage growth and triple lock rules.

Under the triple lock arrangement, the state pension goes up automatically by either 2.5%, inflation, or average wage growth - whichever is higher.

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Chris Newlands

Chris is a freelance journalist, and was previously an editor and correspondent at the Financial Times as well as the business and money editor at The i Newspaper. He is also the author of the Virgin Money Maker, the personal finance guide published by Virgin Books, and has written for the BBC, The Wall Street Journal, The Independent, South China Morning Post, TimeOut, Barron's and The Guardian. He is a graduate in Economics.