Andy Burnham has announced changes to the state pension triple lock that will take effect from April 2030, as part of plans to fund a new National Care Service.
Under the changes, the state pension will continue to rise in line with inflation or by 2.5 per cent, while maintaining its value relative to average earnings over time.
Speaking to Labour conference, the Prime Minister said: ‘From April 2030, the state pension will continue to increase by prices or 2.5 per cent, and it will hold its value relative to earnings over time so that pensioners will always share in the rising prosperity of the nation.’
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