Triple lock 'the elephant in the room' impacting saver sentiment

Follows the chancellor’s 2p cut to NI which took effect on Saturday

Hope Coumbe
clock • 1 min read

The long-term sustainability of the triple lock is again in the spotlight as politicians continue to discuss changes to both tax and National Insurance (NI).

Aegon pensions director Steven Cameron today (8 January) said the future of the triple lock was "the elephant in the room" and that those on fixed incomes will continue to face an uncertain future. The comments come after chancellor Jeremy Hunt's 2p cut to NI came into effect over the weekend. The decision - announced last November in the Autumn Statement - will impact 27 million and has been labelled by Aegon as a challenge for financial planning. Research published by the life company today finds 52% of adults in the UK feel positively about their finances in 2024, though Camer...

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 Pensions

Time is of the essence for pension transfers, advisers say

Time is of the essence for pension transfers, advisers say

More than half highlighted that they are taking one to six months

Isabel Baxter
clock 28 November 2024 • 3 min read
A decade on: Risks and challenges of freedom and choice

A decade on: Risks and challenges of freedom and choice

'Let me be clear: No one will have to buy an annuity'

Adrian Boulding
clock 25 November 2024 • 6 min read
How retirement planning has transformed over the past 50 years

How retirement planning has transformed over the past 50 years

PPI report looks at the move from predictable pensions to personal responsibility

Jonathan Stapleton
clock 21 November 2024 • 3 min read