triple lock

See also: triple-lock

English

Noun

triple lock

  1. (UK, finance) A policy whereby the state pension is increased every year to match either price inflation, earnings growth, or a third fixed rate, whichever is highest.
    • 2022 October 17, “Jeremy Hunt shreds Truss’s economic plans in astounding U-turn on tax”, in The Guardian‎:
      He refused to rule out changes to the pensions triple lock and said a new windfall tax on energy profits was on the table.
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