The annual growth in average pay including bonuses hit 8.2% in June, according to figures published this morning by the Office for National Statistics.

Former Pensions Minister Baroness Altmann has called on policymakers to look at other ways to solve rising state pension costs than raising the starting age, cutting the amount or more means-testing.

The state pension triple lock needs to be review as part of wider focus on older workers, according to John Cridland, author of the government’s Cridland Review of State Pension Age in 2017.

The Government has confirmed that the new State Pension will rise from April by £18.70 from £185.15 per week to £203.85.