‘Costing billions’: is the pensions triple lock a lifeline or simply unaffordable?
UK ministers face pressure over the pension triple‑lock, a guarantee that pensions rise each year by the highest of inflation, earnings growth or 2.5%. Critics argue the policy costs billions and may become unsustainable, while supporters claim it protects retirees’ living standards. With the next budget approaching, the government must decide whether to maintain, modify or abandon the pledge.