Dear Sue… STATE PENSION INCREASE

How much will the state pension go up by this month?

◆ Under the Government’s Triple Lock guarantee, state pension should rise each year, based on inflation, earnings growth or 2.5%, using the highest of these figures. This would have meant an 8% rise. However it was decided figures were skewed by the furlough scheme so the Government suspended the Triple Lock for a year and state pensions are only going up 3.1%. So Basic State Pension goes up from £137.60 a week to £141.85 and the new State Pension from £179.60 to £185.15.