The UK government has been accused of "daylight robbery" after new figures suggest pensioners will see a huge drop in their income next year. According to new analysis, older people will be £427 worse off after the Government decided to suspend the pension mechanism last September.
Jon Ashworth, Labour's shadow work and pensions secretary, accused the Government of "daylight robbery" over the decision to suspend the state pension triple lock. Figures from the Labour Party suggest retirees will see a huge drop in their real income over the next 12 months.
The triple lock has been in place since 2010 after a pledge in the Tory manifesto in 2019 to increase the basic state income by the highest out of average earnings figures, inflation or 2.5 percent. However, in September last year the Conservatives suspended the triple lock for a year.
