The government will bring forward legislation in this parliament to end the state pension triple lock, Prime Minister Andy Burnham announced in his conference speech.
The triple lock — a policy that ensures the state pension rises each year by the highest of 2.5%, inflation or average earnings growth — will remain in place until 2030, the government said. However, MPs will be given a vote on changing the guarantee during this parliamentary term.
Burnham said the law to remove the triple lock will be passed before the next general election, signalling a commitment to legislate for the change even though the statutory guarantee remains in force until 2030.
The move follows ongoing debate about the affordability and fairness of the triple lock, which has long been a central feature of pension policy in the UK. Critics argue it can push up public spending on pensions in line with strong wage growth, while supporters say it protects pensioners from falling living standards.
Source: theguardian.com
