Eastbourne MP votes against state pension ‘triple lock’
The MP for Eastbourne has voted to suspend the ‘triple lock’ which was in place to guarantee the state pension keeps its value over time.
In 2010 the triple lock was introduced to the state pension to make sure pensions kept up with the rate of inflation. It includes three separate measures of inflation, hence the name ‘triple lock’.
In basic terms it means that spending power doesn’t diminish over the years by increasing the pension in line with whichever is highest out of three factors – average wage increase, inflation or 2.5 per cent.
Now the government has won the vote to suspend the triple lock. It will be replaced with a double lock which means the wage increase factor is taken out of the equation. The pension increase will be 2.5 per cent or based on inflation – whichever is higher.
Caroline Ansell was one of those who voted to suspend the triple lock.
Resident David Gambrill said, “Why did our MP vote against the triple lock, stopping the pensioner’s higher increase in their pension, with the high population of pensioners, she should have considered her constituents and the future.”
Mrs Ansell said, “Last year the government stepped in with new legislation to secure pensions when average earnings fell. This year, after furlough, when average earnings have – seemingly – soared, the government has had to apply stabilisers again.
“The pandemic has caused significant statistical anomalies in average earnings, meaning that we have needed to set aside earnings as a potential measure and for one year only, move pensions to a double lock.”
She said she supported this change because it is ‘proportionate’ and stressed it is temporary.
Mrs Ansell said, “Post pandemic and post furlough, we should regain a statistical ‘even keel’ and the government has made it clear it will return to the triple lock from next year for the remainder of this Parliament, in line with the election manifesto commitment. A manifesto written before the pandemic.
“Pension Credit is also available. I know not all who are eligible for this support are currently claiming it so I would urge those pensioners on lower incomes to look into this.”
Work and Pensions Secretary Therese Coffey said the triple lock will be suspended for 2022-2023 and will be restored for the remainder of this Parliament, which ends in 2024.