UK state pension: what is the triple lock, and could it be ditched?
by Rupert Jones from on (#7032S)
An inflation-busting rise in payments is likely to reignite debate about the system introduced in 2011
The full new state pension looks likely to increase by almost 11 to 241 a week from next April - equating to 12,534 a year - as a result of the triple lock, the latest wage growth figures suggest.
The inflation-busting 4.7% or 560-a-year rise will need to be confirmed by the government. It is likely to reignite debate about the affordability of the triple lock, and poses questions about the standard tax-free personal allowance, which stands at 12,570.
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