Burnham confirms he wants to abandon pension triple lock after election to pay for social care – UK politics live

Andy Burnham has confirmed he wants to consider abandoning the pension triple lock after the election to pay for social care. This means that the government may not increase state pensions by the higher of inflation, average earnings, or 2.5% each year, which could affect the amount of money people receive in retirement.

Why it matters

The proposed scrapping of the pension triple lock could lead to reduced pension payments for UK retirees. This change in policy may impact their financial security and spending power.

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