A Government minister had said pensions would be boosted by £400 in 2025
Pensioners have been told they won't get a £400 boost in the annual payments from the DWP next year despite claims by a Government minister. In an interview on BBC Radio 5 Live the Chancellor of the Duchy of Lancaster Pat McFadden claimed that the triple lock “means a rise of about £400 or more in the basic state pension over the next year”.
FullFact's Hannah Smith said: "It seems likely Mr McFadden misspoke, and was intending to refer to the new state pension , the full value of which is set to increase by approximately £460." The figures for next year's rise are based on data published earlier this month, which sets the earnings part of the triple lock, showing annual growth in average weekly earnings increased by 4% in the period from May to July this year. As this is higher than both the current rate of CPI inflation and 2.5%, it all but confirms that the state pension will increase by 4% from April 2025.
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