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State pension likely to rise by £488 a year in April

State pension payments are expected to increase by £488 a year from April, as the triple lock policy faces scrutiny over its rising cost amid a growing pensioner population.

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United Kingdom. BritainPost Editorial

The state pension is likely to rise by £488 a year in April, increasing annual payments for pensioners at a time when the cost of the triple lock is under growing scrutiny.

The expected rise would affect state pension income from April, although the supplied information does not set out whether the figure applies to all recipients or a particular pension rate.

The increase comes against a wider debate over the affordability of the triple lock. The policy has been questioned as the number of pensioners rises, a trend that makes maintaining it more expensive.

The supplied material does not include any ministerial statement, opposition response or further details on how the projected increase has been calculated.

For pensioners, the likely rise would mean an additional £488 a year in state pension income from April. The latest position is that the increase is expected, while the triple lock remains the focus of scrutiny because of its growing cost.

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