Replacing the state pension  triple lock with a double lock will give state pensioners a meaningful increase as well as £2.6 billion in savings which can be used to help the most vulnerable in society, experts have said. The Social Market Foundation said Chancellor Rachel Reeves could swap to a double lock which would see the state pension rise based on the higher number between inflation and earnings.

At the moment, the triple lock is used to calculate the state pension‘s annual rise and…