Every so often, a brave politician tentatively suggests we might want to reconsider the “triple lock” on the UK state pension. The instant uproar from outraged pensioners, amplified by newspaper comment sections, is always enough to ensure such proposals are quickly dropped and never spoken of again.
So it is with Rishi Sunak. Data released earlier this month showed that average UK earnings rose by 5.6 per cent in April, meaning the £85bn triple lock – which increases pensions in line with average wage growth, inflation or 2.5 per cent (whichever is highest) – could cost £4bn more next year
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