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At the last election the Conservatives promised state pensions would rise each year in line with inflation, earnings or 2.5 percent, which ever is highest.
However, in light of the pandemic, the Government has abandoned the promise.
There are fears the Covid crisis has distorted earnings, with an increase of 8 percent expected by April next year.
Under the triple lock, the increase would equate the Government needing to pay an extra £746.20 per pensioner per year.
A senior source has said the triple lock will be suspended for one year in light of the discrepancy.
Instead the Government will commit to a pension increase of 3.1 percent.
More to follow…
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