Business
State pension likely to top £13,000 a year as UK wage growth slows to 3.9%
The rise has reignited the debate about the state pension's long-term affordability and generational fairness.
BBC Business•
The state pension is expected to top £13,000 a year, reigniting the debate about its long-term affordability and generational fairness.
The full, flat-rate state pension is expected to rise by £488 a year in April, based on the latest official earnings figure released on Tuesday.
The so-called triple lock pension policy guarantees that the state pension will increase by either average wage growth, inflation or 2.5% - whichever is highest.
the old basic state pension - for those who reached state pension age before April 2016 – will likely be £192.10 a week, or £9,989.20 a year, an increase of £374.40