Today’s inflation figures (19 October) mean pensioners will be in line for a record-breaking increase to their state pension after prime minister Liz Truss said she was "completely committed" to the triple lock.
UK Consumer Prices Index (CPI) returned to double-digit figures for September hitting 10.1% as the cost of food and non-alcoholic beverages soared. The September inflation figure is one of the key elements for the state pension triple lock formula. The other two being wages and 2.5%. Speaking during a heated Prime Minister's Questions, Truss said she was "completely committed" to the state pension uprating mechanism. Maintaining the triple lock would see the full state pension increase from £185.15 per week to £203.85 per week from April next year. This would be £10,600.20 per year...
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