State Pension Likely to Rise by £488 a Year in April The UK's state pension is set to increase by £488 next April, driven by average wage growth under the triple lock guarantee.
This rise will bring the flat rate state pension above the personal allowance of £12,570, making recipients liable for income tax.
Critics argue that the triple lock policy has created a "ratchet effect," where pensioners' living standards grow faster than those of workers.