Autumn Statement 22: All quiet on the pensions front

Pre-statement speculation on LTA did not come to pass

Jenna Brown
clock • 6 min read

Jeremy Hunt avoided tinkering with pension rules in his fiscal speech as chancellor, with almost the only mention being the reinstatement of the triple lock on state retirement benefits.

Millions of state pensioners will see their payments increase by just over 10% in April when the triple lock - the mechanism by which increases are determined - will be reinstated from its lower ‘double lock' currently in force. Hunt said today (17 November) that the largest-ever increase to the state pensions meant "this government is on your side". Retention of the policy was a Conservative Party manifesto commitment. It has, however, been the topic of much debate over affordability. M&G Wealth head of technical Les Cameron said: "Confirmation that the state pension is to be upra...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pension transfers being 'unnecessarily' delayed due to scam warnings

Pension transfers being 'unnecessarily' delayed due to scam warnings

PensionBee argues there is ‘no clear correlation’ between the number of scam flags and the number of scams

Martin Richmond
clock 11 September 2025 • 3 min read
What is Reform UK's stance on pensions?

What is Reform UK's stance on pensions?

Reform UK recently held its 2025 conference at the NEC in Birmingham

Professional Adviser
clock 09 September 2025 • 5 min read
Could dashboards be the answer to Millennial pension apathy?

Could dashboards be the answer to Millennial pension apathy?

The dashboard rollout could be an inflection point

Paul Muir
clock 08 September 2025 • 4 min read