State pension fears as triple lock ‘could prove just too costly’ after coronavirus crisis | Personal Finance | Finance

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There’s nonetheless a number of days to go till what Mr Sunak has deliberate is unveiled, and plenty of are persevering with to marvel what it means for the rise to the state pension sooner or later.

Steven Cameron, Pensions Director at Aegon commented: “The Chancellor faces the daunting task of how to begin recouping the many billions he has been spending for almost a year, offering much needed support to individuals and businesses through the pandemic.

“With the UK Government solely now starting to set out its roadmap out of lockdown, and the complete financial affect nonetheless unclear, the Chancellor might really feel it’s nonetheless too early to shift his focus from tackling the virus and defending jobs.

“But having cancelled his autumn Budget, and with the funding hole getting larger by the day, he will likely be eager to begin making some bulletins on future cures whether or not by will increase in taxation, a progress agenda or probably a mixture of each.”

READ MORE: Inheritance Tax warning: Rishi Sunak might enact ‘massive changes’ to items & allowances

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