Pensioners are set for an 8 per cent boost after record wage growth continued – but Chancellor Jeremy Hunt has dampened hopes of a pre-election tax cut.
After pay including bonuses grew 8.5 per cent in the three months to July, an uptick from 8.2 per cent three months earlier, meaning the state pension will increase by the same amount in April because of the triple lock - which commits the government to increase the state pension by whichever is highest, wage growth, inflation or 2.5 per cent.
