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The OBR has highlighted the state pension triple lock as a growing expense for the Government to manage
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Analysts have cast doubt on the long-term viability of the state pension triple lock in recent months amid ongoing concerns over the cost in maintaining the retirement benefit's triple lock.
Under this mechanism, pension payment rates are raised every year based on either the rate of inflation, average wages or 2.5 per cent; whichever is the highest.
Based on Office for Budget Responsibility (OBR) figures, the triple lock is expected to cost three times more than initially forecast by 2029-30 unless reform is introduced.
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