The government has confirmed that while the state pension triple lock—ensuring annual increases based on inflation, earnings growth, or 2.5%—will stay in place until 2030, legislation will be introduced during the current parliamentary term to scrap the policy. The prime minister’s announcement signals a shift in the long-standing commitment, which has previously tied pension rises to the highest of the three measures. MPs will now have the opportunity to vote on proposed changes before the guarantee expires. The move marks a significant departure from past pension protections, raising questions about future financial support for retirees.
Guarantee will remain until 2030 but MPs will vote on changes during this parliament, government saysAndy Burnham will pass legislation to scrap the state pension triple lock in this parliament, even though the guarantee will remain until 2030, the government has said.The prime minister used his conference speech to announce a change to the policy, which guarantees that the state pension rises by the highest of 2.5%, inflation or earnings growth. Continue reading...
