Will The Triple Lock For Pensions Be Scrapped As PM Asks Ministers For Cuts

19th October 2022

Speculation was rife yesterday following Jeremy Hunts reversal of most of the Mini Budget.

Previous commitments to keep the Triple Lock look to be on shaky ground.

Liz Truss is no longer promising to increase state pensions in line with surging inflation, as she asks ministers to look for spending cuts.

Two weeks ago the PM said she was "committed" to the triple lock, so payments rise by whatever is higher: prices, average earnings or 2.5%.

But her spokesman has now said she was "not making any commitments" on government spending.

BBC
Triple lock - Liz Truss won't commit to raising pensions with inflation

Guardian
Liz Truss may abandon pension triple lock and says difficult decisions ahead