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Economics

State pension likely to rise by 3.9% next April

The state pension rises by the highest of wage growth, inflation or 2.5%.

The state pension is expected to increase by 3.9% next April, based on the latest jobs and pay figures.

Under the triple lock pension guarantee, the rise is determined by whichever is highest among average wage growth, inflation or 2.5%.

According to the Office for National Statistics, average wage growth between May and July slowed.

At the same time, the number of vacancies in the UK fell, while the number of people claiming unemployment benefits increased.

inflationstate pensionunemploymentwage growthtriple lockpension increaseuk jobs datavacancies

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