BBVA Mi jubilación - Fondo documental

The State Pension is expected to increase substantially next April for the second consecutive year, prompting debate about the affordability of the ‘triple lock’. Under the triple lock, State Pensions are expected to rise by 8.5% in April 2024 in line with earnings. This follows a 10.1% increase in line with Consumer Price Index (CPI) inflation the previous year. This Insight explains what the triple lock is and summarises debates about its sustainability.