LONDON, June 17 (Reuters) - The British government has no plans to break the “triple lock” state pension pledge, Prime Minister Boris Johnson’s spokesman said on Wednesday after reports finance minister Rishi Sunak was considering the option.
According to the triple lock pledge, the state pension goes up by whichever is higher - wages, inflation or 2.5% - and the Financial Times reported this week that Sunak was planning to end the commitment because of the economic fallout of the coronavirus pandemic.
“On the triple lock, these are unique and challenging economic circumstances and we cannot hide from that. As you know decisions on tax and pension policy are set out at budget,” a spokesman for Johnson told reporters.
“But there are no plans to abolish the triple lock, and we will always stand by pensioners.” (Reporting by Elizabeth Piper and Michael Holden; Editing by Alistair Smout)