Does the State Pension go up each year?

The State Pension usually goes up each year. The formula is often changed by the government, but, at present, it is meant to go up by the better of price inflation, the increase in national average earnings or 2.5% (known as the "triple lock"). If you are thinking of retiring abroad, you should note that you may not receive future pensions increases.

You can read more about your State Pension if you retire abroad on the GOV.UK website.

Note: This content is provided as general background information and should not be taken as legal advice or financial advice for your particular situation. Make sure to get individual advice on your case from your union, a source on our free help page or an independent financial advisor before taking any action.

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