On Monday, the chairman of the Treasury Committee claimed the state pension triple lock would be "unsustainable" next year. Mel Stride said the wages measure used to calculate the triple lock should be temporarily suspended. The triple lock guarantees that the state pension will increase in line with inflation, earnings or 2.5 per cent, whichever is higher. From April this year, the full, new flat-rate state pension (for those who reached state pension age after April 2016) is £179.60 a week. The full, old basic state pension (for those who reached state pension age before April 2016) is £137.60 a week.

Source: Daily Mirror September 07, 2021 07:47 UTC