Rishi Sunak and Labour deputy leader Angela Rayner are refusing to guarantee the state pension triple lock will be part of their parties' next election manifestos
average earnings growth measured from May to July, compared with the previous year;The guarantee was introduced in 2010, under the Conservative-Liberal Democrat coalition government.
The triple lock applies to both the basic state pension, which is given to people who reached state pension age before April 2016; and the new state pension, which is given to people who reached the age after this date. Since its inception the only time the triple lock has been temporarily scrapped was in the 2022-23 tax year due a post-Covid rise in wages.£156.20 per weekThe most recent figure for CPI inflation, for July, was 6.
Over the weekend the Prime Minister refused to say whether the Conservatives will include the triple lock in their election manifesto, saying he would not “speculate” on what promises the party will make.
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