state pension

Andy Burnham is reportedly set to signal the end of the state pension triple lock in his Labour conference speech, according to the Telegraph. The triple lock guarantees the state pension rises by the highest of inflation, average earnings or 2.5% each year, and any move to scrap it would be highly contentious among pensioners and within the party.

The BBC reports that the UK Prime Minister may finally abandon the triple lock, the pledge that the state pension rises each year by the highest of inflation, average earnings growth or 2.5%. Dropping the promise would break a long-standing manifesto commitment and is being debated as the government weighs pension costs against pressure on public finances.

The Council of the European Union has given its final approval to updated rules on social security coordination, which determine how workers' pension, unemployment and other benefits are handled when people move between EU member states. The update modernises a framework that affects millions of cross-border workers, students and families across the union, aligning it with current employment patterns.