Rishi Sunak's 'Triple Lock Plus' Initiative Ensures State Pension Protection from Taxation

Tuesday, 28 May 2024, 07:01

In a bid to strengthen support among the older generation, Chancellor Rishi Sunak unveils the 'Triple Lock Plus' assurance, committing to maintain the policy elevating payouts based on the highest between inflation, wage growth, or 2.5 percent. This move signals a £100 annual uplift in personal allowance, contrasting with Labour's acknowledgment of not matching the pledge.

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Rishi Sunak's 'Triple Lock Plus' Pension Pledge

Under the 'Triple Lock Plus' initiative, Rishi Sunak reassures state pension recipients that their benefits will remain shielded from taxation. The policy guarantees that pension payouts will increase in line with the highest percentage among inflation, wage growth, or a minimum of 2.5 percent.

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