Government is committed to pensions triple lock, insists Sunak

Business & Finance
13 Sep 2023 • 8:38 PM MYT
The Independent
The Independent

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The government is committed to the triple lock on pensions, Rishi Sunak insisted at Prime Minister’s Questions on Wednesday, 13 September.

The triple lock guarantees an increase in line with average earnings, inflation or 2.5 per cent, whichever is highest - meaning that pensioners would have been in line for a rise linked to wages from April.

However, pensioners may not get an 8.5 per cent increase in the state pension next year as ministers try to limit the cost to the taxpayer.