PLSA welcomes State Pension triple lock increase

The Pensions and Lifetime Savings Association (PLSA) comments on the Autumn Statement.

Nigel Peaple, Director of Policy and Advocacy at the Pensions and Lifetime Savings Association (PLSA) said: “The PLSA welcomes the rise of the State Pension by £870 in line with inflation and the Triple Lock. The UK State Pension remains one of the lowest in the OECD. As we said in our recent ‘Five Steps to Better Pensions’ report, the State Pension should be set at a sufficient level so as to protect everyone from poverty.

“We also welcome the additional measures to support pensioner households, including the extra £300 cost of living payment and the upgrade, in line with inflation, of Pension Credit.”