Steve Webb: Abolition of triple-lock could increase inadequacy by two-thirds

Former pensions minister says number of those with inadequate retirement could reach 25m

Jasmine Urquhart
clock • 1 min read
Steve Webb: Abolition of triple-lock could increase inadequacy by two-thirds

Relying that the state pension triple lock mechanism will last forever and not be replaced by less generous inflation-only increases is akin to living in a “fool’s paradise”, former pensions minister Sir Steve Webb says.

Speaking at a Society of Pension Professionals (SPP) webinar on the state pension yesterday (12 December), with around 200 pensions professionals in attendance, the LCP partner highlighted that, wh...

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

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Industry

Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Lloyds completes three longevity hedging transactions, WTW acquires Cushon, TPR updates admin guidance

Professional Pensions
clock 12 December 2025 • 1 min read
News Digest: MPs pension scheme makes 'mockery' of Reeves investment push

News Digest: MPs pension scheme makes 'mockery' of Reeves investment push

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 12 December 2025 • 1 min read
Hymans Robertson sets out 2026 hopes for the pensions industry

Hymans Robertson sets out 2026 hopes for the pensions industry

Consultancy says insurance, decumulation and DEI will see changes

Jasmine Urquhart
clock 11 December 2025 • 4 min read
Trustpilot