The Triple Lock's Hidden Cost: Why Scrapping It Makes Sense for Small Businesses The state pension triple lock has long been a contentious issue in British politics, introduced by the coalition government in 2010.
This policy ties the annual increase in pensions to whichever is the highest between 2. 5% inflation, inflation itself, or wage growth.
Despite its well intentioned origins, the triple lock has become a lightning rod for criticism from businesses and policymakers who argue it's no longer sustainable.