Pensioner pain: The triple lock was made into a double lock - and now state pension is rising far slower than inflation4. Mean state pension riseTalking of controversial, rises in state pension take effect this week – but the triple lock was binned. The House of Commons voted to move to a 'double lock', and increase the state pension by inflation rather than the higher wage growth figure next year. As a result, the basic state pension has now risen £4.25 to £141.85 per week, or £7,380 a year. 5. Dividend tax hitLastly, investors will pay £1.3billion more in tax this financial year - the Government has cracked the whip on business owners and savers by hiking the dividend tax rate.

Source: Daily Mail April 07, 2022 23:29 UTC