Conservative manifesto to include state pension triple lock pledge

Tories will keep triple lock in place if party stays in government

Jenna Brown
clock • 1 min read

The state pension triple lock will be retained should the Conservatives win the next general election, the chancellor has confirmed.

Speaking to the BBC, Jeremy Hunt said the triple lock would be included in the party's manifesto. The state pension in uprated using the triple lock mechanism - meaning it increases by the highest out of average earnings, inflation or 2.5%. State pension payouts are set to rise by 8.5% in April. Hunt told Sunday with Laura Kunessberg he believed the "expensive" policy would be paid for by economic growth. Labour has previously said it is also committed to retaining the triple lock. The massive cost of the policy has been criticised by think tanks including the Institute for Fisc...

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

IHT pensions changes expected to drive 'strong interest' in annuities

IHT pensions changes expected to drive 'strong interest' in annuities

Though ‘ambiguity’ persists on annuities treatment, retirement planning expert says

Jen Frost
clock 04 November 2024 • 3 min read
Budget end to overseas pensions 'loophole' could cause 'chaos'

Budget end to overseas pensions 'loophole' could cause 'chaos'

OTC applies to more transfers under changes

Jen Frost
clock 31 October 2024 • 2 min read
Pensions tax-free cash untouched – but what about those who acted pre-Budget?

Pensions tax-free cash untouched – but what about those who acted pre-Budget?

No lump sum change should be ‘welcomed’ but damage cannot be undone

Isabel Baxter
clock 31 October 2024 • 5 min read