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...

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