Today, the state pension pays £10,600 a year to those who retired after April 6, 2016, and qualify for the maximum amount.
An increase of seven percent would increase that by another £742 a year to £11,342.
Older retirees on the basic state pension will get the same percentage increase but it will apply to a lower starting income.
Today, the maximum basic state pension pays £8,122 a year, so a seven percent hike would increase that by just £569 to around £8,691 a year.
While many get additional state pension on top, many are still aggrieved by the difference between the two.
Especially since it widens with each percentage-based increase.
That’s an argument for another day. For now, pensioners will be delighted by Sunak’s commitment.
Yet the Express won’t give up its campaign. As ever with politicians, you have to watch what they’re saying very closely.
Sunak has yet to commit to the triple lock beyond the next election, and there is a danger it could be scrapped in future.
However, neither the Tories nor Labour will want to go to the electorate while threatening to destroy pensioner incomes.
It could cost them millions of votes. Today, the triple lock looks safer than it has done for some time. It’s cause for (cautious) celebration.
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