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The triple lock mechanism, which determines the annual increase in state pension, could be due to change. This policy ensures that state pensions rise each April by the highest of three measures: 2.5 per cent, inflation, or average earnings growth.

The Government has previously pledged its commitment to the triple lock for the duration of this Parliament. However, as the costs associated with this policy continue to escalate, some experts are voicing concerns it may soon become unaffordable.

Rebecca Lamb, external relations manager at Money Wellness, said: "With the state pension set to rise by 4.8 per cent next April, many pensioners will be hoping that the Chancellor confirms the triple lock in the Budget next month. While it's likely to stay for now, there's always the cha

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