One point of difference between the various political parties during this general election is likely to be the state pension.
The age at which the state pension can be drawn and how it grows each year will be key parts of manifesto pledges.
Labour have already promised to keep in place the 'triple lock'.
This existing mechanism means state pensions currently rise each year in line with the highest of wage growth, price inflation or 2.5%.
The trouble is, as our population continues to get older, it's an expensive measure to fund. With growing pressures on adult social care, government priorities appear to be shifting away from the triple lock and towards other areas of funding for the elderly.
We need to wait and see what the Conservative party will promise ahead of the election in June.
One option is to replace the triple lock with a double lock, dropping the 2.5% element of the promise.
This article does a great job of examining what this would mean in terms of state pension income, along with some other options.
It shows that if a “double lock” – based solely on earnings and prices – had been used since then instead, the basic state pension would be worth £106.8p a year less than it is in 2017-18.