7 May 2019

State Pension and NMW increases

The triple lock system, which guarantees that State Pensions will increase each year by the greater of either annual price inflation as measured by the Consumer Prices Index, earnings growth, or 2.5%, remains in place. In April 2019, therefore, the full rate of the Old State Pension has increased to £129.20 a week (was £125.95). The New State Pension, which came into force in 2016, also increased, from a maximum of £164.35 a week to £168.60 a week.

The National Minimum Wage (NMW) has risen from £7.83 to £8.21 an hour for people aged over 25, and from £7.38 to £7.70 for those aged 21-24.