Tag Archives: overseas citizens

End of Triple Lock in sight? Why half a million pensioners are not concerned!

In 2011 the coalition government introduced a formula that would ensure that state pensions would henceforth be automatically protected against the vagaries of inflation. They introduced a so-called triple lock which would guarantee that the state pension would be increased every year by the highest of the following:

  • Average earnings
  • Price inflation as measured by the Consumer Price Index
  • 2.5%

Successive governments have honoured this formula (which produced an increase of 3.9% for pensioners in April this year) and the conservative manifesto in 2019 promised it would be maintained for the following five years.

But then came the coronavirus!

This has heaped a heavy financial toll …

Posted in Op-eds | Also tagged , and | 11 Comments
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