Author: Adam Mawardi

Summary: Recent reports suggest that the state pension could increase by £400 a year, thanks to Labour’s plan to raise it following criticism of means testing the winter fuel allowance. This increase is part of the April triple lock, which could see the full state pension reaching around £12,000 by 2025/26. Pre-2016 retirees may also see a £300 per year increase to £9,000. The final decision on these increases will be made by Pensions Minister Liz Kendall ahead of October’s budget. Rachel Reeves has reaffirmed the government’s commitment to the triple lock until the end of the current Parliament. In…