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triple lock

The House of Lords has voted to reject a controversial bill to suspend the Pensions Triple Lock and instead sent the bill back to the Commons to be reconsidered.

Average earnings data published this morning by the Office for National Statistics (ONS) has highlighted the difficult decision faced by the Chancellor this autumn when deciding on State Pension rates for April 2022.

The State Pension is set to see a significant boost in April with an increase predicted to be around 4%. 

Pensioners have higher incomes on average than the rest of the population for the first time, the Institute for Fiscal Studies has reported.

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