Triple Lock Survives: 8.5% Pension Increase Coming
Posted on 11/22/2023
The triple lock is a UK government mandate to increase the basic and new state pension each year. However, the triple lock requires pensions to increase by whichever amount is highest: average earnings growth, CPI inflation, or 2.5%. That means that pensions are increasing at a faster pace, as they are constantly searching out the…
