Guests discuss why the Triple Lock is unfair on Jeremy Vine On 5 The triple lock increases the state pension each year either by inflation, earnings or 2.5 percent, whichever is highest. It has greatly reduced pensioner poverty since being introduced in 2011. The mechanism also helped maintain the real terms value of the state pension throughout the recent inflationary surge, handing pensioners a 10.1 percent pay rise in April last year, with another 8.5 percent due in April. No wonder pensioners love the triple lock and would be furious to see it axed. Yet that’s what could happen. Tom Selby, director of public policy at AJ Bell,…
