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Should the Triple Lock Be Replaced | Leeds News
Andy Burnham faces mounting pressure to overhaul the state pension’s triple lock—a policy that guarantees annual pension hikes based on wages, inflation, or 2.5%, costing taxpayers an estimated £247 extra per pensioner next April. Think tank Onward proposes replacing it with a system linked to earnings and population shifts, potentially freeing up funds for new parents. Though the triple lock, introduced in 2010, benefits pensioners, its fiscal strain has sparked bipartisan concern over long-term sustainability and planning. The challenge? Replacing it without triggering political firestorms…
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