No quick fix for the pensions triple lock

It was in 2001 that Gordon Brown, the chancellor of the exchequer at the time, first introduced the idea of guaranteed minimum state pension increases, after being attacked for raising the basic state pension by just 75p. More than 15 years later, the issue remains a hot potato for politicians. The “triple lock” state pension promise has become a key election battleground, with the Conservative Party manifesto suggesting it should be downgraded.

Under the triple lock, the value of the state pension rises each year by the highest of price inflation, the increase in average [...]