Millions of pensioners are set to get a 4.5 per cent pay rise in April 2025. But many are confused and angry about it
Over 12 million pensioners are set to receive a pay rise of 4.5 per cent from April 2025, despite previous expectations of a 5.7 per cent increase. As reported on Tuesday, this means they will receive £11.50 less per month than anticipated.
Each year's triple lock increase is determined by the consumer price inflation figure from the previous September and earnings growth over three months from May to July. As of July, inflation was at 2.2 per cent while earnings grew by 4.5% from April to June. It seems almost certain that the triple lock earnings element will be applied when setting next year's state pension increase, reports the Express.If earnings also rise by 4.
In April this year, the new state pension saw an increase of £901, while the basic state pension only rose by £690. The disparity between the two grew by £211 in just one year, reaching a staggering £2,688. Next April, the new state pension will rise by £517, but the old basic state pension will only increase by £396. This will result in the gap growing by another £122 to £2,810.
The basic state pension figure does not reflect this. The additional state pension is earnings-based, so men have typically accumulated more than women. Many receive significantly more than men on the new state pension. In the previous year, the average male basic state pensioner received £9,291 annually, slightly above the £9,128 they received from the new state pension.
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