There could be a substantial rise of 8.5 per cent
The Department for Work and Pensions is looking at ways to reduce State Pension costs. Figures released for pay growth - which will be used to determine the increase coming into effect next April - suggest a substantial pension rise of 8.5 per cent, Birmingham Live reports.
Asked about potential pension rises, he told BBC Radio 4's World At One: "There clearly is a difference if you take into account the non-consolidated elements of pay in recent times, but these are all decisions that I have to take with the Chancellor as part of a very clear process, a statutory process actually, that I go through in the autumn. So I didn't want to get into the weeds of exactly how I'm going to go about that.
But while Mr Stride stressed that the triple lock remained in place, he acknowledged that in the long-term it was "not sustainable." Prime Minister Rishi Sunak recently declined to say if the policy would feature in his party's manifesto at the General Election expected next year.
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