Defending the triple lock


The National Pensioners Convention (NPC) has produced a detailed campaign briefing in defence of the triple-lock guarantee, following the announcement of a review of indexation arrangements for the state pension to take effect after the 2020 election. The triple-lock guarantees that state pensions will rise each year in line with either average earnings, inflation (as measured by the Consumer Price Index (CPI) or 2.5%, whichever is the highest.


Critics say that it should be scrapped as too expensive and unfair to workers who have not had similar pay rises. But over the last six years, the triple lock has only provided a higher increase in the basic state pension than the old system would have produced on just one occasion. 


“It’s ridiculous to suggest that a £3 a week increase in the state pension is too generous and can’t be afforded,” said NPC president Ron Douglas. 


The briefing can be found on the NPC website at: http://npcuk.org/wp-content/uploads/2016/12/Triple-Lock-Fact-Sheet.pdf