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State pension set to rise by £460 next year
The new full state pension is set to rise by £460 a year from April, following the release of the latest official wages data.
Total pay in the May to July period rose at an annual rate of 4%, according to the Office for National Statistics.
Under the arrangement called the “triple lock”, the state pension goes up each year by either 2.5%, inflation, or average earnings – whichever is the highest figure.
The news comes as the government faces a backlash over its decision to cut the winter fuel payment for most pensioners.
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