Calling time on the triple lock?
The state pension triple lock may not survive much longer. The impact of Covid-19 on earnings could mean a change in the way that state pensions increases are calculated in each year. If nothing is done, it could give pensioners a large unintended income boost, but cost the government dearly. At present, the new (single tier) state pension and its predecessor, the basic state pension, both benefit from increases based on the ‘triple lock’. This was introduced by the Coalition