Why the PM could finally drop the triple lock pension pledge
The UK government is facing speculation regarding the potential end of the state pension triple lock policy. Economic advisors suggest that scrapping the pledge could help manage national welfare costs, though the move remains politically sensitive.
Why it matters
Changes to the triple lock would represent a major shift in UK social policy, impacting millions of retirees and the national budget.
Image source, Future Publishing via Getty Images By Faisal Islam Economics editor Published 17 minutes ago The prime minister's Sunday morning BBC interview set hares running when it comes to the future of a policy once seen as politically untouchable.
The timing of the PM's new social care plan sparked suggestions the government could be about to signal the death knell to the state pension triple lock after 16 years.
Andy Burnham said he will put forward tough decisions to fund a new national care service as part of Labour's next general election manifesto, seeking a mandate to make the changes next Parliament.
The triple lock, which in theory expires at the end of this Parliament, means state pensions rise every April by at least 2.5%, or in line with the highest of prices or earnings.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in