The work and pensions secretary Therese Coffey has confirmed the government will recommit to the state pension triple lock for the rest of this Parliament after a pause in 2022.
This comes after the government temporarily moved to a ‘double lock' of the higher of price inflation or 2.5% - it excluded earnings growth - for the upcoming April 2022 increase, because of pandemic related distortions in national average earnings. Pensioners will be relieved by latest commitment to reinstate state pension triple lock, a manifesto commitment made by the Conservatives, but face a difficult 12 months, according to Steven Cameron, pensions director at Aegon. "Renewed commitment from the government to the state pension triple lock will offer some reassurance to state pen...
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