Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential economic benefits of maintaining the pension triple lock.

The Government is committed to ensuring that older people are able to live with the dignity and respect they deserve, and the State Pension is the foundation of state support for older people.

Following the conclusion of the Secretary of State for Work and Pensions’ annual uprating review, the Chancellor has announced in the Autumn Statement that the Government will uprate the State Pension by inflation at 10.1% on 10 April 2023. This is in line with the commitment to keep the triple lock.

Supporting people in retirement after they have worked hard all of their lives is important, especially as pensioners cannot easily increase or supplement their incomes.