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The Guardian - UK

Business

Heather Stewart and Hilary Osborne

Will pensioners be poorer as a result of Burnham scrapping the triple lock?

Andy Burnham IFS Poverty Resolution Foundation

An elderly couple sit on a bench looking out across a beach to the sea. Above them hovers a seagull. — The new policy, just announced by Andy Burnham, should remove the ‘ratchet’ effect, where high inflation can trigger a sharp rise in the state pension. Photograph: Andy Rain/EPA

The prime minister has announced that the pensions triple lock will be scrapped in its current form, to partly fund a national care service.

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