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Andy Burnham to seek law to scrap state pension triple lock in England
The government said the triple lock guarantee would still run until 2030, while MPs would vote on changes during the current parliament.
Andy Burnham plans to pass legislation to scrap the state pension triple lock in this parliament, the government said, even as the guarantee remains in place until 2030. The prime minister announced the change during his conference speech.
The triple lock currently raises the state pension by the highest of 2.5%, inflation, or earnings growth. Burnham said the earnings element will be adjusted in future to avoid much larger pension increases in years when wages spike.
Burnham also said the triple lock would stay in place until 2030, after the next election, to keep Labour’s manifesto promise to retain the guarantee. Guidance published alongside the speech outlined details of the approach.