The state pension is likely to rise by 4.7% in April, after the latest official figures showed this was the pace of wage growth.
The pension is determined by the triple lock, which means it will rise every year by whichever is highest: inflation in September, average weekly earnings from May to July or 2.5%.
Sky’s Economics and Data Editor Ed Conway looks at what the cost of the triple lock is going to be for the UK.
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