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The Department for Work and Pensions has been warned to cut the metric, which has been given state pensioners annually for 15 years.

Payment rates for the state pension increase each year

Payment rates for the state pension increase in line with the triple lock policy

Payment rates for the state pension increase in line with the triple lock policy

The State Pension age is set to rise from 66 to 67 between 2026 and 2028 with a further rise planned to 68.

The Money Saving Expert outlined what state pensions rising could mean for Brits

The state pension triple lock should be ditched after the next election in favour of the uprating system used in Australia, according to the Institute of Fiscal Studies.

The Institute of Fiscal Studies (IFS) has warned the metric skews towards wealthier individuals

Savers are facing taxes on the interest earned on their savings, with more than 1.1 million people over the state pension age potentially facing an unwanted tax bill

The DWP is chasing thousands of pensioners to repay more than £100million in state pension overpayments caused by official errors - and it's now warning more could be on the way

The current Triple Lock commitment is expected to cost the government £145.6 billion

The current Triple Lock commitment is expected to cost the government £145.6 billion

Triple lock benefits richer pensioners the most and makes the public finances unpredictable, warn experts

A financial expert has suggested that stopping any further increase in payment rates could tackle mounting costs

As life expectancy continues to rise and the population ages, our state pension age is increasingly under scrutiny. Britain’s state pension will likely cost the UK Government £146bn in 2025-26, which equates to around five per cent of our…

A warning has been issued to more than 1.1 million people over state pension age who could be hit with a hefty tax bill.

The Lagos State Government has once again demonstrated its consistency in pension administration with the disbursement of over ₦1 billion in accrued pension rights to 463 retirees from the state’s civil service.

Retirees are being urged to "spend pension savings first" - or risk a staggeringly high 87 per cent tax bill.

The DWP is chasing thousands of pensioners to repay more than £100million in state pension overpayments caused by official errors.

More than 1.1 million people over Department for Work and Pensions or DWP state pension age face being hit with income tax on savings accounts.