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UK. House of Lords votes for changes to pension triple lock freeze
The government has been defeated in the House of Lords over its one-year suspension of the “triple lock” formula to increase the state pension.
Ministers plan to temporarily break the link between pensions and the rise in earnings, breaching a manifesto pledge.
It followed concern that a post-pandemic rise in average wages would have meant pensions increasing by 8%.
Peers voted to restore a link with earnings. But MPs could still go on to reject their amendment.
The House of Lords backed an amendment by former Tory pensions minister Baroness Altmann to the law required to suspend the triple lock, by 220 votes to 178.
It will set up a vote in the House of Commons, where the government will have to decide whether to order its MPs to oppose her plan.
Under the triple lock, pensions increase by inflation, the increase in earnings between May and July or 2.5%, whichever is the greater.
However, the government announced plans to suspend this for one year from April 2022, before restoring it.
Instead, the rise will be the consumer inflation rate or 2.5%, whichever is higher.
Read more @BBC
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