State Retirement Pensions: Uprating
The question
To ask the Secretary of State for Work and Pensions, what steps her Department is taking to ensure the State Pension reflects increases in the cost of living.
Answered by Torsten Bell
The Government is committed to the Triple Lock, which means that in April 2025, the basic and new State Pension will increase by the higher of the growth in average earnings, price increases or 2.5%. As a result, the basic and new State Pension will increase by 4.1%, in line with earnings growth. Inflation in the reference period was 1.7%.
This means that over 12 million pensioners will benefit from an increase of up to £470 to their State Pension from April this year. That’s £275 more than if pensions had been uprated by the rise in prices.
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