![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/poll-are-you-worried-about-the-tories-abandoning-the-pensions-triple-lock/&media=https://uknews.evprotec.com/wp-content/uploads/2023/09/1_Senior-couple-looking-concerned-with-bills-and-laptop.jpg&description=The state pension is due for a bumper rise next year as the typical wage increased by 8.5%, but the Conservatives have hinted this could be slashed to 7.8% instead Treasury officials are considering a one-off break from the pensions triple lock, meaning retirees may not get the expected 8.5 percent rise next year - and we want to know what you think. The triple lock guarantees that the state pension will increase in line with either inflation, earnings or 2.5 percent, whichever is highest. Recent figures have shown that the typical wage rocketed by 8.5 percent between May and June this year, once the one-off payments to public servants were taken into account. Under the current system, retirees can expect to be handed at least this boost in their state pensions from April next year. However, officials want to save the Treasury hundreds of millions of pounds by giving pensioners 7.8 percent instead - the average wage without bonuses to public servants included. This move would hit 12.5 million people, meaning that a retiree on the new state pension would get an extra £15.90 a week next year instead of £17.33, costing them £74 a year, reports the Daily Mail. Former Tory Chancellor George Osborne said this morning he would be "very tempted" not to give the bumper rise if he was still in post. Meanwhile, Tory Work and Pensions Secretary Mel Stride has refused to confirm whether bonuses might be carved out, saying increases need to take into account "affordability and the position of the economy". Speaking to BBC's World at One, Mr Stride highlighted that the triple lock remained in place, but claimed that in the long-term it was "not sustainable". This echoes comments made by former Tory leader Lord Hague, who said: 'I would not expect at the coming election the political parties to say they're going to do away with the triple lock but it is unsustainable over time." Discussions about the future of the triple lock come as it's the second huge rise since it was reintrodu){kind=link}
The state pension is due for a bumper rise next year as the typical wage increased by 8.5%, but the Conservatives have hinted this could be slashed to 7.8% instead
Treasury officials are considering a one-off break from the pensions triple lock, meaning retirees may not get the expected 8.5 percent rise next year – and we want to know what you think.
The triple lock guarantees that the state pension will increase in line with either inflation, earnings or 2.5 percent, whichever is highest. Recent figures have shown that the typical wage rocketed by 8.5 percent between May and June this year, once the one-off payments to public servants were taken into account.
Under the current system, retirees can expect to be handed at least this boost in their state pensions from April next year. However, officials want to save the Treasury hundreds of millions of pounds by giving pensioners 7.8 percent instead – the average wage without bonuses to public servants included.
This move would hit 12.5 million people, meaning that a retiree on the new state pension would get an extra £15.90 a week next year instead of £17.33, costing them £74 a year, reports the Daily Mail.