General · 13 hours ago
State pension triple lock costs £16bn more than expected
The state pension triple lock, which guarantees annual increases, is now costing £16 billion more each year than if it didn't exist. This week, the British Chambers of Commerce urged the abandonment of the policy, proposing the funds thereby freed up could be used to address youth unemployment. The Institute for Fiscal Studies thinktank estimates the state pension bill will hit £154 billion this year.
Reported by Guardian · How we write briefs