‘Costing billions’: is the pensions triple lock a lifeline or simply unaffordable?

The UK's state pension "triple lock" is under scrutiny as debate rages over its affordability. The triple lock guarantees that the state pension increases annually by the highest rate of inflation, wage growth, or 2.5%. This pledge is popular with millions of pensioners but critics argue it may be unaffordable, costing billions of pounds. If scrapped, the move could have significant implications for the UK's economy and markets, particularly for those reliant on the state pension.

Why it matters

The UK budget is looming and there are arguments over the pensions triple lock. This could impact the budget and the economy.

Market impact

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