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International Business Times UK
International Business Times UK
National
Clark Garret Alvarez

Are British Pensioners Falling Behind? UK State Pension Still Trails Europe Despite Triple Lock Rise

The UK's state pension rises under the triple lock (Credit: Alexas Fotos/Pexels)

Britain's state pension is set to rise again under the triple lock, but comparisons with European retirement systems continue to raise questions about whether UK pensioners are receiving enough support to maintain their standard of living.

The full new state pension increased by 4.8% in April, taking weekly payments to £241.30 and delivering an annual boost of roughly £575. The increase was driven by earnings growth, one of the three measures used under the triple lock system, which guarantees that pensions rise each year by whichever is highest: inflation, wage growth or 2.5%.

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