Pensioners are ‘big winners’ with triple-lock set to rise by 3.9%, lifting state pension to £13,000 – business live

Wage growth – used to set triple-lock pension – slows to 3.9%, meaning state pension should hit £13,000 next year ‘Costing billions’: is the pensions triple lock a lifeline or simply unaffordable? If the state pension rises to £13,000 next year, it will probably breach the UK’s tax-free personal allowance (currently £12,570) – the amount you can earn before paying income tax. However, pensioners who don’t receive any other income should still be exempt from paying tax if the state pension exceeds the personal allowance.