The government’s commitment to the triple lock has raised industry concerns

While pensioners may be cheering a proposed 4.7 per cent rise in the state pension, there are lingering questions over the sustainability of such increases and the viability of the triple lock itself.

The proposed uplift means that payments to retirees are on track to rise by more than £560, bringing the new full state pension to £12,534.60, according to the latest data from the Office for National Statistics.

This represents an increase to £241 per week, up from £230.25.

Mike Ambery, retirement savings director at Standard Life , said: “With the government holding fast to its commitment to the triple lock…the planned uplift will be some comfort to pensioners grappling with rising bills and the lingering ef

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