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UK’s Sunak prepares to break ‘triple lock’ state pension pledge: FT

FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in London

(Reuters) – British finance minister Rishi Sunak is planning to break the Conservative Party’s “triple lock” state pension pledge, the Financial Times reported https://on.ft.com/3e9TilQ, saying the Treasury fears the policy may become unaffordable due to the economic fallout of the coronavirus outbreak.

According to the triple lock pledge, state pension goes up by whichever is higher- wages, inflation or 2.5%.

(Reporting by Kanishka Singh in Bengaluru; Editing by Sandra Maler)

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