If you receive the state pension, you could be in for a huge £561 boost on Wednesday, but there's one thing you need to be aware of. From April next year, the state pension is set to increase due to the triple lock .

This rise, based on 4.7% earnings growth, will bring the full new state pension to £12,534 per year, an increase of £561, reports The Independent . The catch is that recipients will be close to the frozen personal allowance of £12,570, which could lead to more pensioners paying income tax on additional income.

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Rachel Reeves , the Chancellor, has confirmed the Government's commitment to the triple lock. The Government says this aims to provide securi

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