State pension on course for inflation-busting 4.7% rise under triple lock; JLR production shutdown extended again – business live

The Guardian
The Guardian
3M ago
58 views
UK pensioners are expected to receive a 4.7% increase in their state pension from April 2026, contingent on the government's triple lock policy. This rise is based on average wage growth data, which remains robust. However, the final increase will depend on upcoming inflation figures. The increase will benefit those on the new state pension, while those on the basic state pension may not receive the full benefit due to different uprating rules. The government has committed to maintaining the triple lock for the current parliamentary term.
State pension on course for inflation-busting 4.7% rise under triple lock; JLR production shutdown extended again – business live
A What happened
UK pensioners are expected to receive a 4.7% increase in their state pension from April 2026, contingent on the government's triple lock policy. This rise is based on average wage growth data, which remains robust. However, the final increase will depend on upcoming inflation figures. The increase will benefit those on the new state pension, while those on the basic state pension may not receive the full benefit due to different uprating rules. The government has committed to maintaining the triple lock for the current parliamentary term.
★

Key insights

  • 1

    Pension Increase: Pensioners may see their weekly income rise significantly.

  • 2

    Triple Lock Policy: The increase is tied to the government's triple lock guarantee.

  • 3

    Wage Growth Impact: Average wage growth is a key factor in determining the pension rise.

Takeaways

The anticipated pension increase highlights the importance of wage growth and inflation in shaping retirement benefits.

Topics

Business & Markets Markets Economy