State pension triple lock could see 10.1% rise to payment

State pension payments are vital for millions of Britons right across the country. Many will use these payments to budget on a day-to-day basis, but what does the future hold for the state pension?The policy dates back to 2010, where it was first introduced by the then-coalition Government.Since then, it has become a mainstay of Tory party policy, intended to make sure pensioners’ incomes rise in real terms.The triple lock sees the state pension rise each year by the highest of the following: 2.5 percent, inflation or average earnings.READ MORE: Britons ‘incapable’ of funding retirement on state pension alone State pension triple lock could see 10.1% rise to payment – but Sunak remains non-committal (Image: Getty)Inflation in the year to September, the figure usually used for this element, was recorded at 10.1 percent as Britons continue to grapple with the cost of living crisis.This makes inflation the highest measure out of the triple lock and therefore what is likely to be used to increase payments.If the triple lock were to return, basic state pensioners could see an annual income rise of £745.It would see the full basic state pension rise from £7,401.53 to £8,149.24 annually. DON’T MISSBritons can avoid pension ‘complications’ with simple savings tip [EXCLUSIVE]DWP benefit and payment recipients to get Christmas bonus – full list [INSIGHT]State pension – You may not get a full sum – check now [EXPLAINED] State Pension UK: What is State Pension? (Image: EXPRESS)What is happening where you live? Find out by adding your postcode or visit InYourArea Recently, a Number 10 spokesperson said ‘uncertainty’ over the state pension was ‘difficult for pensioners’.The press secretary added a decision on the matter would be ‘wrapped up into the fiscal statement’ on November 17.How to claim the state pensionIndividuals will not get a new state pension automatically, and they have to claim it.People should receive a letter ‘no later than two months’ before reaching state pension age, according to the Government, telling them what to do.The quickest way to get the state pension is to apply online via the GOV.UK website.