Public Spending
The Briefing Room
00:00
What's Going to Happen to the State Pensions?
The state pension is intended to go up by what's known as the triple lock. That means that every year state pension incomes go up by inflation, earnings growth or 2.5%. How much could the government potentially say by changing those arrangements? If you were to index the state pension by earnings growth rather than inflation next April, that could save you about £4 billion a year. Work age benefits don't have a triple lock, but the plans up until now suggest that they should increase in line with inflation, I believe.
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