{"id":78043,"date":"2023-09-12T16:08:22","date_gmt":"2023-09-12T16:08:22","guid":{"rendered":"https:\/\/posterboyedit.com\/?p=78043"},"modified":"2023-09-12T16:08:22","modified_gmt":"2023-09-12T16:08:22","slug":"pensioners-bumper-901-cash-boost-under-threat-as-cabinet-minister-hints-of-triple-lock-change-the-sun","status":"publish","type":"post","link":"https:\/\/posterboyedit.com\/lifestyle\/pensioners-bumper-901-cash-boost-under-threat-as-cabinet-minister-hints-of-triple-lock-change-the-sun\/","title":{"rendered":"Pensioners&#x27; bumper \u00a3901 cash boost under threat as Cabinet Minister hints of triple lock change | The Sun"},"content":{"rendered":"<p>PENSIONERS may not bag a bumper \u00a3901 pay rise next year, the Welfare Secretary hinted today.<\/p>\n<p>Mel Stride suggested he could downgrade the triple lock to exclude worker bonuses from the rate OAP bungs increase in April.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/09\/credit-image-thomas-krych-zuma-819881308.jpg\"><\/p>\n<p>It would mean millions of state pensioners would receive a lesser hike of \u00a3826.8 rather than the expected \u00a3901.<\/p>\n<p>Under the current system the triple lock pushes up pensions by whatever is higher of wages, inflation or 2.5 per cent.<\/p>\n<p>But a jump in earnings of 8.5 per cent &#8211; outstripping 6.8 per cent inflation &#8211; would cost the cash-strapped Treasury around \u00a39billion.\u00a0<\/p>\n<p>Mr Stride today warned he would take into account the \u201caffordability and the position of the economy\u201d before rubber-stamping any rise.<\/p>\n<h2><span>READ MORE ON MONEY<\/span><\/h2>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/05\/486856ce-cfe0-4b14-800a-1cd13ea607d6.jpg\"><\/p>\n<h3>State Pension to rise by \u00a3901 for millions next year &#8211; how much will you get?<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2022\/06\/coins-glass-bottles-savings-money-714606151.jpg\"><\/p>\n<h3>What is the triple lock pension?<\/h3>\n<p>While committing to the principle of the triple lock, he refused to rule out pegging the increase to earnings without bonuses, a lesser rise of 7.8 per cent.<\/p>\n<p>He told the BBC: \u201cI don\u2019t want to get into the weeds of exactly how I&#x27;m going to go about that. But the overarching point about the triple lock is that we remain committed to it.\u201d<\/p>\n<p>Many Tories fear that ditching the triple lock would trigger an electoral backlash with only a year before voters head to the polls.<\/p>\n<p>Older voters are one of the Conservatives\u2019 most reliable voter bases and crucial to any path of reelection.<\/p>\n<h2>Most read in The Sun<\/h2>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/09\/VP-COMP-BACHERLORETTE-v2-1.jpg\"><\/picture><span>TRAGIC END <\/span><\/p>\n<h3>Horror pics show 230ft cliff where reality star, 36, died in tragic car plunge<\/h3>\n<p><\/span><span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/09\/TM-comp-EastEnders-spalsh-1.jpg\"><\/picture><span>ENDER THE ROAD <\/span><\/p>\n<h3>Enders in crisis as Brian Conley quits to leave key storyline in tatters<\/h3>\n<p><\/span><span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/09\/gv-kingsley-pond-kingsley-hampshire-844230177.jpg\"><\/picture><span>TODDLER TRAGEDY <\/span><\/p>\n<h3>Woman arrested for murder after girl, 2, found in pond 200 yards from home<\/h3>\n<p><\/span><span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/09\/tp-composite-katie-price.jpg\"><\/picture><span>KINGDOM OF JORDAN <\/span><\/p>\n<h3>Katie Price could lose home after being taken back to court over \u00a33m debt<\/h3>\n<p><\/span><\/p>\n<p>One Tory MP said: \u201cWe shouldn\u2019t touch it. It would be madness at this time.\u201d<\/p>\n<p>Last year ministers hiked pensions by a costly 10.1 per cent in line with ripping inflation after bowing to pressure.\u00a0<\/p>\n<p>Mr Stride admitted the triple lock &#8211; a flagship Tory policy since 2011 &#8211; was \u201cnot sustainable\u201d in the long term.\u00a0<\/p>\n<p>Former Conservative leader William Hague &#8211; Rishi Sunak\u2019s mentor and confidant &#8211; today advocated scrapping the expensive system.\u00a0<\/p>\n<p>Many see the triple lock as unfair for making poorer younger workers foot big pay rises for wealthier OAPs.<\/p>\n<p>TaxPayers\u2019 Alliance boss John O\u2019Connell said: \u201cThe triple lock is placing unsustainable pressure on the public finances, limiting scope for much needed tax cuts which would benefit everyone.<\/p>\n<p>\u201cWhile pensioners deserve to be protected from inflation, it is unfair on workers who have been playing catch up with price rises to insist that they fund inflation-busting pension boosts, particularly with the tax burden at a 70-year high.\u201d<\/p>\n<p>Source: <a href=\"https:\/\/www.thesun.co.uk\/money\/23923263\/pensioners-bumper-901-cash-boost-under-threat\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PENSIONERS may not bag a bumper \u00a3901 pay rise next year, the Welfare Secretary hinted today. Mel Stride suggested he could downgrade the triple lock to exclude worker bonuses from the rate OAP bungs increase in April. It would mean millions of state pensioners would receive a lesser hike of \u00a3826.8 rather than the expected&hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pensioners&#x27; bumper \u00a3901 cash boost under threat as Cabinet Minister hints of triple lock change | The Sun - posterboyedit<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/posterboyedit.com\/lifestyle\/pensioners-bumper-901-cash-boost-under-threat-as-cabinet-minister-hints-of-triple-lock-change-the-sun\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pensioners&#x27; bumper \u00a3901 cash boost under threat as Cabinet Minister hints of triple lock change | The Sun - posterboyedit\" \/>\n<meta property=\"og:description\" content=\"PENSIONERS may not bag a bumper \u00a3901 pay rise next year, the Welfare Secretary hinted today. 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