Chancellor urged to tweak pensions 'triple lock' guarantee to save Treasury £1.5bn
It would give pensioners a real-terms increase, but would avoid the surge in pensions in 2022.
Compared with the simple triple lock, the two-year triple lock could save the Chancellor £1.5bn per year in 2022/23 and each year thereafter.HIT FOR SIXBoris and Carrie Symonds host top secret 'Covid secure' baptism for sonNOSY NEIGHBOURLCP partner Steve Webb said: “The basic idea of the triple lock was to make sure that pensioners maintained their real living standards, did not fall behind the working age population and never faced a derisory cash increase.
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