Industry sceptical of potential pensions triple lock suspension
'To erode a system which is already behind many other first world nations may be short-sighted'. UK Chancellor of the Exchequer Rishi Sunak has recently hinted at a possible suspension of the pensions triple lock policy for the 2022-23 financial year to help the government cut costs and avoid any further financial pains induced by the pandemic.
But several industry players told International Adviser that it is highly unlikely such a measure will see the light of day.
David White, managing director of QB Partners, said that suspending the policy will inevitably attract criticism from Tory sceptics as well as immediately impact older voters and those close to retirement age. Please link to International Adviser to read the full article by Cristian Angeloni.