Triple lock survives – for now
The government has acted to ensure state pension increases can happen next April. The Basic State Pension (BSP) and the New State Pension (NSP) – for anyone who reached State Pension Age after 5 April 2016 – are both subject to the ‘Triple Lock’ measure. This means that every April these two pensions increase by the greater of: 1) 2.5%; 2) Consumer price index (CPI) inflation to September of the previous year; and 3) Average earnings growth based on the annual change in earni