Millions of pensioners will see a 4.1 per cent increase in their State Pension from next April, according to the Office for National Statistics (ONS). The rise is due to the Triple Lock system, which ensures pensions increase annually by the highest of three figures: average annual earnings growth from May to July (4.1%), the Consumer Price Index (CPI) in the year to September (1.7%), or 2.5 per cent.

This means those on the full New State Pension will see their weekly payments rise from…