The CPI’s latest figures, released by the ONS, state: “Annual growth in employees’ average earnings was 5.2% for regular earnings (excluding bonuses) and 5.3% for total earnings (including bonuses).The CPI's latest figures, released by the ONS, state: "Annual growth in employees' average earnings was 5.2% for regular earnings (excluding bonuses) and 5.3% for total earnings (including bonuses).The CPI’s latest figures, released by the ONS, state: “Annual growth in employees’ average earnings was 5.2% for regular earnings (excluding bonuses) and 5.3% for total earnings (including bonuses).

State pensioners born in these years could be set for a £634 boost from the Department for Work and Pensions ( DWP ) state pension rule.

Thanks to the Triple Lock, state pensioners could receive a 5.3 per cent hike, because that is where the ‘inflation’ metric of the Triple Lock currently sits. The CPI’s latest figures, released by the ONS, state: “Annual growth in employees’ average earnings was 5.2% for regular earnings (excluding bonuses) and 5.3% for total earnings (including bonuses).”

It means those born between 1951 and 1959 could be handed £634, taking the weekly payments from their current £230.25 per week to about £242.45 per week.

READ MORE State pensioners born in certain years set for £715 boost from DWP

The government introduced the triple lock from 2012. After decades of lobbying governments, National Average Earnings was included in the calculation of state pension increases.

However, the government also changed the inflation statistic used from RPI (Retail Prices Index) to CPI (Consumer Prices Index) from 2012 It retained a minimum increase of 2.5% Calculating increase on the best of all three became known as – the ‘triple lock’.

There are two main official measures of price inflation. The Consumer Prices Index (CPI) that does not include housing costs and The Retail Prices Index (RPI) that does include housing costs.

The CPI and the RPI are calculated in different ways. The result is that CPI is nearly always significantly lower than RPI Neither measure shows the real cost for pensioners.

Union Unison has defended the Triple Lock, saying: “The triple lock is not only fair to younger generations but essential especially for those that will have to rely on the State Pension for a high proportion of their retirement income when they reach retirement.

“The removal of the triple lock would mean the relative value of the State Pension would start to decline again as it did between 1980 and 2003 when it was only linked to price inflation. The younger generations need the triple lock to survive for them, so they have a decent state pension when they finally reach state pension age.

“Continuing decline in the coverage in Defined Benefit workplace pensions in favour of Defined Contribution schemes means an increasing proportion of the current workforce are facing an uncertain future and likely to have significantly lower income in retirement.”