Experts suggest ways forward over pressure on triple lock pensions

Mark Battersby
clock • 6 min read

Pensions experts have weighed into the ongoing debate about how to deal with the triple lock on UK state pensions in light of todays (17 August) news that earnings growth (including bonuses) hit 8.8% in April to June according to the latest Labour Market Statistics from the UK's Office for National Statistics. Ian Browne, pensions expert at Quilter said: "Assuming earnings growth remains at 8.8%, the triple lock will increase the cost of the state pension by £8bn, a staggering £5.7bn more than if it increased by 2.5%." Weekly pensioner income would increase to the following:   ...

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