Financial Planners have welcomed Prime Minister Andy Burnham’s announcement yesterday that he plans to axe the Pensions Triple Lock from 2030.

The Pensions Triple Lock is set to be axed from 2030 and replaced with a double lock, Prime Minister Andy Burnham told the Labour Party annual conference today.

The State Pension looks set to rise by 3.9% next April after the average earnings figure for the three-month period ending July 2026, published by the ONS today, came in at 3.9%.

The State Pension is likely to rise by just over £500 next April, with the increase set to be based on next month’s average earnings figure.

More than a third (36%) of people in their 60s who have yet to retire say they will need to work longer as a direct result of the planned State Pension age rise.

The number of higher-rate income taxpayers could double to around two-thirds of all taxpayers by the 2075/6 tax year, according to analysis from the Office for Budgetary Responsibility.

The next Prime Minister has been urged to address the long-term sustainability of the State Pension Triple Lock.

Under 40s should be allowed to draw down a year’s worth of state pension now, to help ease acute financial anxiety.

Over one in four savers (27%) expect to be either totally or heavily reliant on the State Pension in retirement.

The Chancellor has confirmed in an interview with Martin Lewis that pensioners whose sole income is the state pension will not have to pay income tax once it breaches the threshold for paying basic rate tax.

The Treasury has confirmed that it will increase the State Pension by 4.8% for 2026/27 in April under the earnings trigger of the Triple Lock mechanism.

The best way of protecting people with shorter life expectancies is to give them a minimum guaranteed payout on their State Pension, says pensions consultancy LCP.

The State Pension Age (SPA) should only increase if there is a corresponding rise in healthy life expectancy, according to pensions sector trade body Pensions UK.

The State Pension is almost certain to rise by 4.8% in April due to stubborn CPI inflation figures, the latest of which were published today by the Office for National Statistics.

The State Pension is set to rise by 4.8% in April - higher than the 4.7% predicted only a month ago - due to the Triple Lock mechanism, according to a forecast from former Pensions Minister Sir Steve Webb.

Unless there is a big surge in inflation in the next two months, the state pension will rise by 4.7% next April.

The State Pension could climb by more than £550 next year thanks to the triple lock, as earnings growth outpaces inflation.

Most pension savers are unaware that they can significantly boost their State Pension by delaying taking it, according to a new study.

The State Pension age may need to rise as high as 80 to deal with a long term funding crisis, according to new modelling by pension consultants and actuaries Barnett Waddingham.

Work and Pensions Secretary Liz Kendall has confirmed that the third statutory Government review into when and how to raise the State Pension age will begin straightaway.