Damien Moore has voted in favour of a temporary scrap to the pension triple lock. The triple lock guarantees that the state pension will grown annually in line with whatever is largest out of the average wage increase, inflation or 2.5%, but an unexpected growth in wages risked adding £3bn to the government’s annual pension spending. All but two Conservative MPs voted in favour of the motion which scrapped the triple lock for twelve months, instead linking pension rises next year to whichever is higher from inflation or 2.5%, essentially a “double lock”. Under the new double lock, pensions are … Continue reading Damien Moore votes in favour of temporary halt to pension triple lock