UK. U-turn shows pitfalls of unpicking pensions triple-lock
A pensions timebomb is ticking on the Isle of Man and the self-governing island off the UK's west coast came very close to defusing it last week. Like the UK, the island protects state pensions with the triple lock, which automatically increases the state pension each year by the maximum of three measures: price inflation, average earnings or 2.5%. The Isle of Man's government wanted to scrap the triple lock for some pensioners in its budget last week. But ministers were forced...