Conservatives Signal Potential Reform of Pension Triple Lock

Shadow Chancellor Mel Stride calls the policy 'unsustainable' in the long term, prompting criticism from Labour as the general election approaches.

The triple lock policy, introduced in 2010, ensures state pensions rise annually by the highest of inflation, average earnings, or 2.5%.
Shadow Chancellor Mel Stride stated that the triple lock is mathematically unsustainable in the very long term due to rising costs.
The Institute for Fiscal Studies estimates the policy could cost an additional £5 billion to £45 billion annually by 2050.
Labour criticized the Conservatives' stance, accusing them of planning to abandon the policy and pledging to maintain it through the next parliament.
Stride emphasized the Conservatives' historical commitment to protecting pensioners while confirming a review of all pension-related policies.