One particular group of Brits set to get £1,071 month-to-month beneath Andy Burnham

Labour Prime Minister Andy Burnham has promised to keep the state pension triple lock, meaning eligible pensioners could receive £1,071 a month

State pensioners aged 67 to 77 are poised for £1,071 monthly under Andy Burnham. Labour Party Prime Minister Mr Burnham has pledged to maintain the state pension triple lock.

The full new state pension currently stands at £241.30 weekly for those reaching state pension age after April 6, 2016. The Department for Work and Pensions (DWP) Triple Lock dictates that pensions must increase by one of three measures: wage growth, inflation or a flat 2.5%, whichever proves highest.

Wage growth topped the list this year at 4.8%, meaning pensions rose accordingly in April. Should the triple lock climb only by the statutory minimum of 2.5%, state pensioners on the new rate would receive an additional £313.

This would see payments climbing to £1,071 monthly. However, bear in mind the new state pension applies solely to those aged 67 to 77, with individuals born before 1951 remaining on the basic rate instead.

Mr Burnham has described it as “important” to uphold the Labour manifesto pledge to preserve the triple lock on the state pension, reports Birmingham Live.

Reddit user Masam10 enquired in an online Q and A: “Is it time to abolish the triple lock? Or at least have that discussion?”.

The Makerfield MP responded: “I appreciate there’s a lot of debate about this but it is important that the commitment in the manifesto stands.”

Current projections indicate the government is spending roughly £1billion daily on the escalating welfare bill. Official figures released yesterday by the Office for National Statistics – for a month which typically sees a surplus due to tax receipts – revealed that the government had borrowed £2.3billion more than anticipated.

“The underlying dynamics between why our deficit is as it is and debt has risen so much is that we have just boosted government spending dramatically in recent years and – as many people talk about and I am among them – sooner or later, if the country wants to sustain a better longer term growth performance, we have to deal with those things,” Lord O’Neill, who served during former PM David Cameron’s second term, told the BBC.

“I include the triple lock as well as a more realistic and sensible approach to welfare spending under genuine welfare reform. I am a supporter of a lot more sensible approach to government spending and taxation.”