The IFS calls to end the state pension triple lock

Jan 3, 2024 · A research institute has called to scrap the triple lock and replace it with a system that emphasises average earnings. The Institute for Fiscal Studies (IFS) published a report …

5%
OFF

Pensions Triple-lock ‘should Be Scrapped By 2025’ - Civil Service …

2 weeks from now

The review, led by John Cridland said the lock – which guarantees that the basic pension rises by a minimum of 2.5% a year – had repaired much of the erosion in the value of state pensions …

civilserviceworld.com

5%
OFF

Should The Pensions Triple Lock Be Scrapped? - MoneyWeek

2 weeks from now

Jun 27, 2020 · However, what this scenario means for state pensions is that, with the triple lock still in place, the flat-rate pension would rise by 2.5% in 2021 and 18.3% in 2022. That’s a two …

moneyweek.com

FAQs about The IFS calls to end the state pension triple lock Coupon?

What does the triple lock pledge mean for the state pension?

The triple lock pledge means the state pension should increase every year by the highest of inflation, average earnings growth or 2.5 per cent - and it will deliver an 8.5 per cent boost next April. Triple lock or new four-point guarantee? Find out the details of the IFS plan below then have your say in our poll ...

What is the pensions triple lock?

The pensions triple lock is the guarantee, introduced by the coalition government in 2011, that the state pension is increased each year by either the (CPI) inflation rate, the rise in average earnings, or 2.5% – whichever of those three is the highest. ...

Should the state pension 'triple lock' be replaced by a new 'guarantee'?

Find out the details of its four-point plan then vote in our poll below The state pension 'triple lock' should be replaced by a new four-pronged 'guarantee', according to the Institute for Fiscal Studies. This would permanently link the state pension to full-time wages in the working population. ...

Should the government ditch the triple lock?

The government should ditch the triple lock and instead link the state pension to median earnings, according to the Institute for Fiscal Studies (IFS). The respected thinktank’s newly-published paper The future of the state pension says the triple lock results in unpredictable and sometimes overly generous increases to the state pension. ...

Can a state pension be a double lock?

“Once the state pension is a reasonable share of average earnings – perhaps around a third – you could then have an earnings link or a double lock,” he said. Labour is expected to commit to continuing the triple lock in its manifesto for the general election. ...

What is the current triple lock mechanism for state pension uprating?

The current triple lock mechanism that is normally used for annual state pension uprating is a commitment that the state pension will increase each April in line with whichever is highest out of the rise in inflation, earnings or 2.5 per cent. ...