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ByDharshini DavidDeputy economics editor
  • Published5 minutes ago

Getting older is something few of us want to think about. Yet how we fund our later years, and how much we'll get, has been a hot topic.

The triple lock formula - state pensions increasing by the greatest of 2.5%, earnings growth, or inflation - means those benefits have risen far faster than the earnings of workers since its introduction in 2011.

But as housing costs have also been rising fast, pensioner poverty has actually increased slightly in the last decade.