Fact check: Some people’s state pensions rose by £900 in April

Labour says its “commitment to the triple lock means pensions have risen by £900 this year”.

Rate

The £900-a-year increase came into effect in April 2024, months before the formation of a Labour government.

Facts

On 9 April 2024, the State Pension increased by 8.5%. This meant that someone receiving the full amount of the new State Pension would receive an increase of £900 per year.

This is because of the so-called triple lock, a policy that ensures state pensions grow at the same rate as inflation or citizens’ incomes, or by 2.5% (whichever is higher).

The April 2024 increase was based on profit growth between May and July 2023, which at 8.5% was above CPI inflation.

Not all pensioners received the increase from £203.85 a week to £221.20 a week – an increase of £902.20 a year. This only affected those receiving the full new State Pension, which is only available to those who reached State Pension age on or after 6 April 2016.

Those receiving the full old basic State Pension will see an increase of £691.60. In addition, not everyone receives the full State Pension.

Cufflinks

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Gov.uk – Government confirms commitment to supporting retirees with £900 increase to state pension (archive)

UK Parliament – Triple lock: How will state pensions be increased in the future? (archive)

Gov.uk – Benefit and Pension Rates 2024-2025 (archive)

Gov.uk – Your State Pension Explained (Archive)