State pensioners could receive an additional £470 annually from the Department of Work and Pensions (DWP) starting next April.
The state pension increases every April under the 'triple-lock' rule, which guarantees a rise of 2.5 per cent or more. If earnings growth (from May to July of the previous year) or the Consumer Prices Index inflation (for September of the previous year) is higher than 2.5 per cent, it will be raised in line with the highest figure.
Last year, the increase was determined by earnings growth, which saw state pensions rise by 8.5 per cent. This year, it is expected that earnings growth will again be the highest deciding factor due to more subdued inflation levels. READ MORE: DWP issued warning over Universal Credit, PIP and other benefits as payments to increase This week, the Office for National Statistics (ONS) published revised official figures for earnings growth up to July this year.
Last month, figures indicated that total pay had increased by 4.0 per cent annually in the three months to July, but the new jobs data has revised the figure up to 4.1 per cent.
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