The Triple Lock is expected to cost 15.5bn more in 2029-30 compared with increases linked only to earnings. The full new state pension for those reaching state pension age after April 2016 rose to £230.25 a week in April (Image: mixetto via Getty Images)

The Government has vowed to maintain the state pension triple lock, despite growing concerns it may soon become financially unsustainable. Pensions Minister Torsten Bell affirmed that the guarantee ensuring pensions increase annually by whichever is highest - inflation, average earnings, or 2.5% - would continue "throughout this parliament," even as Whitehall grapples with a multibillion-pound budgetary gap before the November Budget. ‌

The minister, who also serves as Treasury secretary, addressed a London gathering on W

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