State pension increases each year…but where you live could mean you miss out on rise

State pension increases each year…but where you live could mean you miss out on rise

The triple lock mechanism means the state pension rises annually by whichever is the highest out of the average percentage growth in wages in Great Britain, the percentage growth in prices in the UK as measured by the Consumer Prices Index (CPI), and 2.5 percent. Earlier this year, the increase was tied to wage growth.