The state pension is expected to rise by 8.5 per cent - the second-largest jump ever recorded - on the back of recent earnings figures
This could mean an increase of around 7.8 per cent rather than 8.5 per cent., and the full state pension would beWork and Pensions Secretary Mel Stride stressed the need for any increases to take into account “affordability and the position of the economy”, despite insisting the Government remained committed to the triple lock.
Asked whether that would be based on earnings including bonuses, the 8.5 per cent figure, he told BBC Radio 4’s: “There clearly is a difference if you take into account the non-consolidated elements of pay in recent times, but these are all decisions that I have to take with the Chancellor as part of a very clear process, a statutory process actually, that I go through in the autumn.
“So I didn’t want me to get into the weeds of exactly how I’m going to go about that. But the overarching point about the triple lock is that we remain committed to it.”At present the full basic state pension is £156.20 per week, and the full state pension is £203.85 per week. How much you get depends on yourto get the full state pension.
Are employed and earning between £123 and £190 a week from one employer and are treated as having paid NI contributions;Receive NI credits.
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