After an 8.8 per cent increase in wages was recorded in July, pensioners are expected to receive a huge income boost due to the triple lock pension. Critics of the policy argue it is unfair for pensioners to receive financial  gains whilst the younger generation has faced the brunt of the pandemic economy.

Julian Jessop, IEA Economics Fellow, was quoted in the Independent saying: “The 8.8 per cent jump in average pay in the three months to June provides more ammunition for those arguing that the ‘triple lock’ on the state pension needs to be unpicked.”