However, this mechanism was suspended, with the reason being that the pandemic had caused an unprecedented skewing of these three figures which would mean a rise of over eight percent in line with wage increases.
A double lock replaced the triple lock, ensuring state pension payments would increase by either inflation or 2.5 percent, which resulted in the current 3.1 percent increase due next month.
However, since these increases were confirmed last year, inflation has skyrocketed with an expected seven or eight percent to hit in April, which would mean pensioners essentially face a real-value loss in their payments of roughly £486.20 for the 2022 to 2023 financial year.
Married Woman’s Pension
Women who derive their qualifying years from their spouse or civil partner’s NI contributions, also known as a Category B pension, will see an increase from £82.45 to £85.