Triple Lock State Pension Back On

Triple Lock State Pension Back On.

The conclusion of a DUP/Conservative deal for government has resulted in a surprise requirement that UK State Pensions will be required to maintain their triple lock.

What is the Triple Lock?

Pensioners get a yearly state pension increase in April of the higher of inflation (as at September), wages growth or 2.5% pa.

This is great news for pensioners for not so good for the rest of us.

An economic recession is on its way, whether you blame Brexit or Trump or anything, economies move in cycles and we are coming to the end of a growth cycle.  So how can we afford the ‘triple lock’ with inflation potentially rocketing?

Quite simply we cannot, so perhaps taxes will have to rise in other areas to fund the triple lock along with increased NHS funding required and more.