What the controversial triple lock means for state pensions

Is the policy making the state pension unaffordable?

Coins are stacked in piles that get higher alongside a jar of coins
Jeremy Hunt has confirmed the triple lock will return in 2024
(Image credit: marchmeena29 / Getty Images)

Pensioners are set for an 8.5% rise in state pension payments from next April under the controversial "triple lock" system. 

Chancellor Jeremy Hunt confirmed in his Autumn Statement that the state pension will rise by 8.5% to £221.20 a week for the new state pension and £169.50 a week for the old basic state pension – for those who reached retirement age before 2016. 

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