Andy Burnham announces end of the triple lock after next election
The Prime Minister has announced that the triple lock – which ensure that the state pension rises by either inflation, wages or 2.5 per cent – will end after the next election.
The Labour manifesto at the 2024 general election pledged to keep the triple lock for the duration of this Parliament, which Burnham said he will "honour".
During his speech at Labour Party conference, Burnham added "in April 2030, we will adjust it. The state pension will continue to rise every year, at least by prices or 2.5 percent, and it will hold its value relative to earnings over time".
The Prime Minister has announced that the triple lock – which ensure that the state pension rises by either inflation, wages or 2.5 per cent – will end after the next election.
The Labour manifesto at the 2024 general election pledged to keep the triple lock for the duration of this Parliament, which Burnham said he will “honour”.
During his speech at Labour Party conference, Burnham added “in April 2030, we will adjust it. The state pension will continue to rise every year, at least by prices or 2.5 percent, and it will hold its value relative to earnings over time”.
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