Government defeats Lords' bid to save triple lock

The state pension is now set to rise 3.1%

Jenna Brown
clock • 3 min read
Baroness Ros Altmann
Image:

Baroness Ros Altmann

MPs have rejected amendments put forward by members of the House of Lords that would have retained the state pension triple lock following “fiery” exchanges in the House of Commons.

The state pension triple lock will now be suspended for a year as planned to prevent a 8.3% increase based on ‘artificially high' earnings growth brought about by the pandemic. The double lock...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

PPF Purple Book highlights DB funding improvements, but warns 'risks remain'

PPF Purple Book highlights DB funding improvements, but warns 'risks remain'

19th edition of PPF’s Purple Book shows funding improvements across the DB landscape

Holly Roach
clock 05 December 2024 • 3 min read
DWP urged to amend regulations within pension scheme annual reports

DWP urged to amend regulations within pension scheme annual reports

Organisations say additional information makes annual report ‘unreadable’ to members

Holly Roach
clock 05 December 2024 • 1 min read
TPR updates DB covenant guidance

TPR updates DB covenant guidance

Guidance for DB trustees is aligned with regulator’s funding code

Holly Roach
clock 04 December 2024 • 7 min read
Trustpilot