People relying solely on the full new state pension are on course to breach the personal tax allowance for the first time after official earnings data put some pensioners in line for a potential rise of nearly £500 a year from next April.
Under the triple lock guarantee, the state pension increases every April in line with whichever is the highest of total earnings growth in the year from May to July of the previous year, CPI (Consumer Prices Index) inflation in September of the previous year, or 2.5%.
