Gov't Suspends Pension 'Triple Lock' Over Pandemic Anomaly
By Martin Croucher (September 7, 2021, 2:02 PM BST) -- The British government said on Tuesday that it will suspend a so-called triple lock on state pension spending, after experts warned of an artificial boost to U.K. earnings caused by the COVID-19 pandemic.
The Secretary of State for work and pensions, Thérèse Coffey, told Parliament that the furlough scheme, set up last year to held workers struggling during the health crisis, had created a "statistical anomaly" that suggested a rapid growth in the average earnings of Britons.
The triple lock, an election pledge made in 2019 by the incumbent Conservative Party, links annual rises in state pension spending to an increase in...
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