Thanks to the way state pension rises are calculated, next year looks set to be a good one for people claiming it.
That's because, back in 2010, the Government brought in a policy saying the pension would rise by a bare minimum of 2.5% a year, and more if earnings or inflation were higher than that.
They called it the "triple lock guarantee", and it means this year pensions will be boosted by a minimum of 3.9%.
Aegon pensions director Steven Cameron said: “Based on the latest earnings growth figures, it looks like state pensioners can look forward to an inflation busting 4% increase in their state pension from next April."
The exact amount won't be confirmed until October 16, but we can say that the rise will be at least £6.75 a week for people on the full new state pension and £5.15 a week for people on the full old basic state pension.
That will take the new state pension up to £175.35 a week or £9,118.20 a year, while the old state pension will rise to £134.35 a week or £6,986.20 a year from April 2020.
“This will be welcome news for current state pensioners," Cameron said.
But he warned it was less good news for others.
"The state pension is not funded in advance so pensions are funded on a ‘pay as you go’ basis from today’s workers’ National Insurance contributions," Cameron said.
"With the prospect of an early General Election , it will be interesting to see where each party stands on commitments to retaining the triple lock for the next 5 years.”
