Andy Burnham bumper above-inflation hike to state pension

Millions of over-65 pensioners in the UK are set to receive an above-inflation increase to the state pension, following the latest “triple lock” data. Based on figures published for September, wage growth is running at 3.9%, above inflation, meaning the state pension is expected to rise by that rate from next spring. The policy sets annual increases using whichever is highest among inflation, wage growth, or 2.5%. The full state pension paid to those retiring since April 2016 will reach £250.70 per week (about £1,086 per month). The basic state pension is set to climb to £192.10. Mayor Andy Burnham ruled out changes until at least 2029 amid mounting pressure over triple lock cost.