UK. Triple lock is far from the biggest pension issue on government’s plate
One of the realisations of reaching an age when you are beginning to plan the details of what to do when you finally stop work is how much those preparations are affected by decisions made by others, over which you have limited control.
Chief among them is the issue of money. The income you retire on is a key determinant in what happens next: how comfortable your life will be and what compromises you need to make to get through the next 20 or 30 years.
Which brings me to the triple lock on state pensions – an element of government policy about which we have been hearing so much in recent weeks.
After several months in which the Treasury was supposedly “relaxed” at the prospect of an above-average increase in the state pension from next April, suddenly all bets are off, with chancellor Rishi Sunak hinting earlier this month that the government will temporarily break it.
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