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Economy

UK state pension set to rise 3.9% next April

Britain's state pension is expected to rise by 3.9% next April under the triple lock, which applies the highest of wage growth, inflation or 2.5%. Average pay is running ahead of inflation forecasts, while reports note that the increase would lift the pension above the £12,570 income-tax allowance.

Why it matters

The increase would boost retirees' income while drawing more pension recipients into the income-tax system.

Sources

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