The shadow pensions minister has cautioned that scrapping the triple lock on state pensions to pay for a new National Care Service will be regretted. Speaking at the Pensions UK conference, Helen Whately argued that the government has created a fresh financial challenge through its commitment to remove the mechanism.
The triple lock, which determines how state pensions are adjusted annually, has become a point of political dispute. Critics worry that abandoning it could undermine the long-term sustainability of the state pension system.