As the cost of living problem affects low-income households, state pensions will climb more quickly than benefits.

 Rishi Sunak has expressed his commitment to maintaining the pension triple lock, even if it results in an increase corresponding to average earnings. The state pension seems set to rise at a faster pace than benefits next year, with indications that the Prime Minister is open to boosting pensioner income by nearly 8 percent. 

After the Prime Minister indicated he was willing to raise pensioner's income by almost 8%, the state pension is on track to climb at a quicker rate than benefits next year.

While Sunak remains dedicated to the triple lock, low-income families grappling with the ongoing cost of living crisis might not witness similar benefit increases, which are likely to align with inflation instead. This triple lock mechanism involves uprating the state pension in April based on either inflation, wages, or a minimum of 2.5 percent, depending on which is higher. The current outlook suggests that wage growth, at 7.8 percent, is the highest among the three factors. Sunak, addressing questions during a visit to Leicester, affirmed the government's commitment to the triple lock policy and emphasized the established process for determining pension and benefit increases. Despite potential discomfort with an 8 percent uprating, Sunak asserted the priority of reducing inflation and supporting those facing its challenges. He reasoned that intervening to assist the vulnerable during inflationary periods is appropriate. In April, both benefits and pensions saw a 10.1 percent uprating, aligned with the previous September's inflation figure. 

The Bank of England's projected 6.9 percent inflation figure for this year could result in benefits rising approximately 1 percent slower than pensions. Current figures place the base state pension rate at £203.85 per week. A 7.8 percent wage growth alignment would mean a weekly increase of £15.90, translating to over £800 annually. Observers, including former pensions minister Steve Webb, suggest Chancellor Jeremy Hunt might need an additional £2 billion for pensions beyond his initial estimates. The commitment to the triple lock remains in place until the next election, as affirmed by Work and Pensions Secretary Mel Stride in May. Recent analysis indicates that over the past decade, pensions have, on average, increased twice as much as out-of-work benefits.