The Government may have to increase taxes or accelerate the rise in the state pension age so it can continue to meet the rising costs of the state pension, a group has warned.
The Bank of England adviser said the state pension triple lock policy does not fairly reflect the needs of state pensioners and suggested some alternatives to how the state pension increase could be determined.
A petition is calling for the Government to increase the state pension to be equitable to the National Living Wage to ensure older Britons are able to fund their retirement.
The triple lock may not be sustainable as state pension payments could become too much for the Government to pay, experts have exclusively told Express.co.uk.