I firmly believe people who have worked hard all their lives deserve security in their retirement. The triple lock means that the full amounts of both the basic and new State Pensions will increase annually by the highest of average earnings growth, price inflation, or 2.5 per cent. As a result of the triple lock, from April 2019, the full yearly amount of the basic State Pension is over £675 higher than if it had just been up-rated by earnings since April 2010.
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