Property News · April 27, 2017

Theresa May considering scrapping 'triple lock' on pensions


Policy that guarantees increase in basic state pension each year could be ditched for a weaker ‘double lock’ and money used for social care insteadTheresa May is seriously considering replacing the “triple lock”, which guarantees a minimum increase in the state pension, with a less generous “double lock” and could free up some of the money saved to spend on social care.The existing system guarantees that the basic state pension will increase each year by whichever is the largest of inflation, average earnings, or 2.5%, but it has become expensive to fund during a period when prices and wages growth have been low. Continue reading…

Source : theguardian.com
Read more…Theresa May considering scrapping ‘triple lock’ on pensions

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