The state pension is crucial to millions of older people. Hence why any talk of how much it’s going up by is seized upon. Key to the calculation is the “triple lock” - the pledge that annual increases will be the highest of either earnings, inflation, or 2.5%. With fresh figures showing inflation down to 1.7% in September, average earnings of 4.1% is likely to be the measure used for next April’s rise. The big caveat here is that we need to wait for the Budget on October 30 to get confirmation

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