Triple lock could see state pension grow by 8% after latest earnings data

The triple lock guarantees the basic state pension will rise in line with the highest of earnings, inflation or 2.5%. For next April's increase, the inflation figure will be measured by the consumer price index in the year to September 2021, which will be published in October. The earnings figure will be measured by average weekly earnings (potentially including or excluding bonuses) in the three months to July 2021 compared with a year earlier. If the triple lock increased by the earnings growth figure of 8.8% published on Tuesday morning (from April to June, including bonuses) then ...