Labour to retain triple lock if it wins general election

AJ Bell calls on all political parties to ‘come clean’ on pensions

Jenna Brown
clock • 2 min read

Labour has said it will retain the state pension triple lock if it wins the next general election, according to reports.

The party told The I it would keep the policy in place should it win power. AJ Bell said while the policy, and its retention, would be viewed as a commitment to older voters it did not mean the triple lock made fiscal sense. It urged all politicians to ‘come clean' with voters about the future of the state pension. AJ Bell explained the triple-lock pledge meant the state pension increases each year by the highest of average earnings, inflation or 2.5%. State pension payouts are set to rise by 8.5% in April. Director of public policy Tom Selby said: "Given Sir Keir Starmer has be...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Exploring pensions outsourcing as a route to unlocking efficiencies

Exploring pensions outsourcing as a route to unlocking efficiencies

'Unlocks the potential for iterative improvement'

Julia Fintz
clock 24 December 2024 • 7 min read
Government confirms no compensation for WASPI women over state pension age changes

Government confirms no compensation for WASPI women over state pension age changes

DWP finds communication delays did not amount to financial loss

Martin Richmond
clock 17 December 2024 • 4 min read
Chancellor's move to pause Pensions Review 'deeply disappointing'

Chancellor's move to pause Pensions Review 'deeply disappointing'

Rachel Reeves has reportedly pressed indefinitely paused the review

Jenna Brown
clock 16 December 2024 • 3 min read