Stay updated with breaking news from State Pensions. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Ministers are understood to be scrambling to work out ways to pay less after bonuses paid to NHS staff and civil servants drove average wage increases up to 8.5%
The latest news, updates and opinions on State Pensions from the expert team here at MoneyWeek
Under cost-saving options drawn up by officials, working-age benefits could be cut in real terms if the Chancellor decides not to peg them to September's inflation figure.
There is no precise figure being given for the increase as of yet.
The UK's spending on state pensions is set to increase by £11 billion as a result of the triple lock, compared to what spending would have been if growth had been in line with either prices or earnings, according to new analysis from the Institute for Fiscal Studies (IFS).