UK state Pension provision is already amongst the poorest in the civilised world.
In an attempt to improve the situation a triple-lock on state pension was introduced to guarantee that it will increase annually by the higher of earnings, inflation or 2.5%. What was not widely known is that the lock only applies up until 2020.
Ros Altmann’s was quoted as stating that the triple-lock should be cancelled now. Not true. What she actually said was that she thought that it should be continued past 2020, but that this was unlikely.
Ros is probably right and the relatively low value of UK state pension provision looks set to continue. With many of us already facing delays in obtaining state pension, how will this impact you?
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