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Monday, Aug 02, 2021

Sunak prepares to break 'triple lock' state pension pledge

Sunak prepares to break 'triple lock' state pension pledge

British finance minister Rishi Sunak is planning to break the Conservative Party's "triple lock" state pension pledge, the Financial Times reported, saying the Treasury fears the policy may become unaffordable due to the economic fallout of the coronavirus outbreak.
According to the triple lock pledge, state pension goes up by whichever is higher- wages, inflation or 2.5%.
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