The triple lock system is to remain in place
State Pension claimants are set to receive a big increase in payments from April next year. Chancellor Jeremy Hunt says the triple lock system to calculate the rise in amounts each year will remain in place.
Meanwhile, earnings growth for May-July was much higher, reaching 7.8 per cent excluding bonuses and 8.5 per cent including bonuses. This is the highest annual growth rate since comparable records began in 2001 and unless inflation suddenly jumps, either of these figures is likely to be used for the pension uprating calculations.
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