Triple lock state pensions
6 November 2016 State Pension should move to a double lock from 2020 – 2.5% guaranteed rises make no sense Triple lock was introduced for political reasons but 2.5% inflates long-term costs Double lock can protect pensioners properly against rises in earnings or prices Must not increase means-testing of State Pension as that would undermine private saving The State Pension triple lock is promised until 2020 – after that, the law only requires earnings increases. However, because the triple lock…