One eye-catching pledge from the Conservatives during the 2017 General Election was to ditch the so called ‘Pensions Triple Lock’ which protects the buying power of pensions by increasing them by either price inflation, wage inflation or 2.5% every year, whichever is greater.
This triple lock looked likely to be replaced with a double lock, increasing with inflation or earnings only, if the Conservatives won a majority.
However, it will be retained for the time being as one of the compromises made during negotiations with the DUP.
Remember :
No matter how generous the state pension gets, you will still be in a much better position to enjoy your retirement if you have other sources of income too.
JTM’s advisers are experts in planning for a secure and prosperous retirement through pensions and other investments.
Give us a call at our offices in Ferndown, Dorset to arrange a meeting.