New UK chancellor signals State pension 'triple lock' is under threat

Mark Battersby
clock • 3 min read

State pension triple-lock uncertainty lies ahead of CPI figures as the new UK Chancellor of the Exchequer Jeremy Hunt refuses to back manifesto pledge. Tomorrow's Consumer Prices Index (CPI) figure should, in theory, dictate state pension increases for 2024 as the state pension ‘triple-lock' guarantees the benefit rises by the highest of average earnings, CPI inflation and 2.5%. Abandoning the triple-lock in favour of an earning-linked increase could save the UK Treasury an estimated £4bn-£5bn a year Tom Selby, head of retirement policy at AJ Bell, said:"The state pension triple-lo...

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