The Conservative party has scrapped a manifesto commitment to drop the State Pension ‘triple lock’, along with plans that would have seen the Winter Fuel Payment means-tested in the future.
Announced earlier today, the news comes at the same time as a confidence and supply deal, with the Democratic Unionist Party (DUP). The DUP has agreed to back the Conservative Government on key votes.
The ‘triple lock’ means the State Pension increases by whichever is the highest out of:
The rate of inflation as measured by the Consumer Price Index (CPI)