State pensioners born after 1951 being handed £574 tax

View Image

State pensioners are set for £575 boost thanks to the Triple Lock boost. The Triple Lock pledge from the Labour Party government will hand state pensioners on the new rate, born after 1951 if they're men and 1953 if they're women, £575.

BBC and ITV star Martin Lewis explained via his MoneySavingExpert website: "The State Pension is set to rise 4.7% [now 4.8%] next April. We know this as it is 'triple locked' – i.e. it rises by the higher of 2.5% or inflation or the rise in average earnings.

"The key figure has just come in for earnings to July and it's likely to be the highest of the three, at 4.7% [now 4.8%]. So based on that, the FULL State Pension (for someone with all the qualifying National Insurance years) is set to rise from: NEW state pension: £230.25 to £241.05 a