The Triple Lock

Updated: Sep 3, 2020

The NPC General Secretary, Jan Shortt, has written to the Chancellor of the Exchequer, Rt Hon Rishi Sunak MP, to express our concerns around reports that the state pension ‘triple lock’ is under threat once again and to urge him to commit to protecting it. We would urge you to raise the issue with your MP. The letter can be found below

24.06.20 Triple Lock
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You can find your local MP's details on the below link.

https://members.parliament.uk/constituencies/ A  copy of the letter can also be found below.

Head Office:  Marchmont Community Centre, 62 Marchmont Street, London WC1N 1AB Tel: 020 7837 6622 Email: info@npcuk.org  Web: www.npcuk.org 24 June 2020 Rt Hon Rishi Sunak MP Chancellor of the Exchequer HM Treasury 1 Horse Guards Road Westminster London, SW1A 2HQ Dear Chancellor of the Exchequer Triple Lock We are writing to express our concerns around reports that the state pension ‘triple lock’ is under threat once again and to urge you to commit to protecting it. The National Pensioners Convention is the largest campaigning organisation for older people in the UK, representing around 1.2 million pensioners. We work for the benefit of all pensioners, now and in the future. We understand the pressures upon you as Chancellor to balance the books at a time when the economy is facing recession amid the impact of a global pandemic. However, there are several issues we would like you to bear in mind whilst you are considering your course of action:

  • All generations deserve a decent state pension in retirement. Currently the UK state pension is the least adequate in the economically developed world with a replacement rate of just 29%. Today’s younger generations will increasingly come to rely on the state pension as one of their main sources of income in their future retirement.

  • The gender pension gap is bigger than the gender pay gap.

  • There are currently 1.9 million pensioners living in poverty which is now rising after a period of stability.In addition, around 50,000 (perhaps