What is the state pension triple-lock rise and what does it mean?

Level looks poised to rise to £230 a week from April 2025 as a result of government formula

• UK state pension could rise by about £460 a year from April

The full new state pension looks likely to increase by almost £9 to £230 a week from next April – equating to £11,962 a year – as a result of the “triple lock”, the latest wage growth figures have suggested.

The above-inflation rise, which represents a £460-a-year increase, will need to be confirmed by the government. It could help take some of the heat off ministers after Keir Starmer’s widely criticised decision to axe winter fuel payments in England and Wales for all but the poorest pensioners.

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