Proposal: Replace the Triple Lock with an “Average-of-Inflation” Up-rating for the State Pension
1. Executive summary This paper proposes up-rating the State Pension each April by the average of the three UK inflation measures (CPI, CPIH and RPI) for the previous September, rather than by the triple lock (the highest of earnings growth, CPI inflation or 2.5%). Using official outturns for the last five up-ratings (effective April 2020–2024), … [Read more…]






