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flag UK government considers capping state pension increases to manage rising costs, potentially altering triple lock policy.

flag The UK government is considering capping annual state pension increases, currently guaranteed by the triple lock policy, due to rising costs. flag The triple lock ensures pension rises by the highest of 2.5%, inflation, or average earnings growth. flag The Office for Budget Responsibility predicts this could cost £15.5 billion annually by 2029/2030, leading experts to suggest a cap to manage state pension expenses.

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