Pensions Hike To £12k-AYyear

Boost touted for those in retirement

- GRAHAM HISCOTT

THE state pension could rise to more than £12,000 a year from next April under the Government's "triple lock" pledge, experts predict.

The promise ensures pensions increase by the highest out of average earnings, inflation or 2.5 per cent. With inflation now down to two per cent, it is likely wage growth will again be the trigger for next April's increase.

Data out yesterday from the Office for National Statistics showed average wages grew by 5.7 per cent in the three months to May.

All eyes will be on figures published in September, which normally influence the following year's state pension uplift.

David Brooks, head of policy at consultancy Broadstone, said: "With average wages growing at 5.7 per cent, that would amount to an extra £655 every year for those in receipt of a full state pension which would then total around £12,155 from its current rate of £11,502."