Jeremy Hunt is considering whether to strip out the effect of public-sector bonuses when calculating the level of the state pension for next year
should rise by 8.5 per cent in 2024 under the formula used by the Treasury to calculate its annual increase.
The inflation rate for September – the month used to calculate the triple lock – will be revealed on Wednesday and is forecast to be somewhere around 6.6 per cent. The annual earnings increase for May to July was 8.5 per cent – meaning that figure will be the one used to determine the rate of pensions, because it is higher than inflation.
Campaigners have claimed that changing the basis of the triple lock would be a breach of the manifesto promise made by the Conservatives.
Belgique Dernières Nouvelles, Belgique Actualités
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