Jeremy Hunt Rishi Sunak Britain Scotland reports experts economy Jeremy Hunt Rishi Sunak Britain Scotland

Financial expert predicts State Pension Triple Lock pledge will be scrapped at Autumn Statement next week

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www.dailyrecord.co.uk

A pensions expert is warning 12.5 million older people across the UK to prepare for a financial blow next week when Chancellor Jeremy Hunt delivers the Autumn Statement.

Ray Black, managing director of chartered financial planning firm, Money Minder, suggests there may be “continued restrictions on State Pension uprating”, higher taxes and more controversially, an increase to National Insurance contributions from April announced on November 17.

The Triple Lock rule is the UK Government’s guarantee that State Pensions grow in line with whichever is highest out of earnings, inflation or 2.5%.

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