DUP deal forces Tories to U-turn on triple lock

No change to winter fuel payment

Hannah Godfrey
clock • 2 min read

The triple lock will stay along with winter fuel payments as a result of the Conservative party's deal with the Democratic Unionist Party (DUP), it has been confirmed.

A confidence and supply agreement published Monday morning said: "Both parties have agreed that there will be no change to the pensions triple lock and the universal nature of the winter fuel payment." The decision on keeping the triple lock forms a U-turn by the Conservative party, which campaigned to scrap the triple lock by the end of 2020 and begin to means test winter fuel payments in this year's general election. However a surprise hung parliament forced the Conservatives to seek backing from the Northern Irish party after they failed to win an overall majority in the June elect...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

PA360: Crucial advisers can spot all vulnerability characteristics

PA360: Crucial advisers can spot all vulnerability characteristics

‘It is highly likely people in decumulation will have a vulnerability’

Hope Coumbe
clock 26 April 2024 • 1 min read
Inflation shocks driving another long uptick in annuity sales

Inflation shocks driving another long uptick in annuity sales

‘Customers should be careful that this is the right decision for them’

Hope Coumbe
clock 23 April 2024 • 1 min read
Advisers warn market volatility will threaten retirement plans

Advisers warn market volatility will threaten retirement plans

More than half expect clients to postpone or change plans

Isabel Baxter
clock 26 March 2024 • 2 min read