The Pensions and Lifetime Savings Association (PLSA) has joined the debate on the future of the triple lock - numbering the scrapping of the measure as the top pension priority for parties in the upcoming general election.
The trade body instead suggested the state pension should be pegged to earnings growth, "with a floor to protect against any periods of instability". Although the triple lock has been "valuable" in raising the relative income of pensioners, the PLSA continued, maintaining the policy would add around 1% of GDP to the cost of the state pension. It called for "a simpler, fairer and more affordable uprating mechanism", arguing that indexing in line with earnings would allow the state pension to maintain its current value of around 30% of average earnings. The call to end the policy ste...
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