Gov't 'Can Save £15B' By Dropping Pension Triple Lock

Law360, London (September 9, 2020, 3:39 PM BST) -- The government could save £15 billion ($19.4 billion) by breaking a manifesto promise and abandoning a "triple lock" mechanism that ensures the state pension keeps pace with the rising cost of living, a think tank has proposed.

The Pensions Policy Institute said Tuesday that temporarily replacing the triple lock with a "smoothing mechanism" that calculates earnings inflation over a two-year average would guard against a sharp rise in earnings inflation as the economy recovers from the COVID-19 pandemic.

Daniela Silcock, head of policy research at the PPI, said that earnings inflation had tumbled to minus 1% in May because of job losses, furloughs...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Related Sections

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!