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Treasury officials mull one-off break from pensions triple lock

Government insiders believe they can justify ‘tweaking’ formula that decides pension increase in order to save £1bn

Treasury officials are discussing a one-off break from the pensions triple lock that could save £1bn by preventing a bumper 8.5% increase in the state pension next year.

The government is considering stripping out public sector bonuses that were awarded to workers to prevent strikes over the summer from the calculation that determines the annual rise in pensions.

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