If the state pension had increased by just inflation, pensioners would be hundreds of pounds worse off, analysis shows
Those receiving the full new state pension will get £11,502 a year, and those on the basic state pension will reach £8,814 are set to be better off by more than £800 from April due to the triple lock, a new analysis shows.
If it were linked to inflation alone, the basic state pension would be £7,826 and the full new state pension would be £10,673. Dean Butler, mnaging director for Retail at Standard Life, said: “Pensioners are set to see a healthy boost to their incomes next month as the state pension amount passes £11,000 for many for the first time.
Alice Guy, head of pensions and savings at interactive investor, said: “The triple lock was introduced in 2010 to lift millions pensioners out of poverty after a long period where the state pension increases lagged far behind wages.
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