The triple lock played an “important role”, but it was inevitable it would not continue forever, pensions industry sources have said.
After much speculation of changes to the triple lock, prime minister Andy Burnham yesterday (29 September) revealed the government would adjust the mechanism from 2030, confirming in his speech at the Labour Party Conference that the state pension will "rise by at least prices (inflation) or 2.5%" and would "hold value relative to earnings over time". Pensions UK chief policy officer Zoe Alexander said while the triple lock has played an "important role in restoring the value of the state pension and giving millions of older people greater financial security", Pensions UK has recognised ...
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