Age Cymru calls on the new PM to protect the triple lock
In congratulating Rishi Sunak in becoming the UK’s new Prime Minister, Age Cymru is calling on the new PM to place protecting the triple lock at the top of his in-tray.
The triple lock is the mechanism by which the government raises the State Pension annually in line with either price increases, average earnings, or 2.5%, whichever was the highest, but it was suspended last year. However, with soaring energy and food prices, older people are desperate to see the triple lock reinstated to help them face these financial challenges.
Pensioners living in Wales on low and modest incomes are looking to the winter months with understandable fear. We have already heard from older people who are risking their health by skipping meals, and switching off lights, heating, and fridges.
Knowing that their State Pension would keep pace with rising prices would give precious hope to many older people at a time of great anxiety.