Apply the triple lock to existing old age pensions up to the new annual rate.

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Petition Action

Apply the triple lock to existing old age pensions up to the new annual rate.

Petition Details

The post April 6th 2016 pensions will be increased by 2.5% (min. per year) of the full amount starting with £155-65. Pensions being paid prior to April 6th 2016 will only be increased by 2.5% based on the basic of £119-30, not on any extras earned by older pensioners by SERPS, NI contributions etc.

Additional Information

The idea of the petition is to make rises fairer for older pensioners after the start of the NEW FLAT RATE OLD AGE PENSION April 6th 2016. The way the government triple lock pension increases will be applied to pensioners entitled to draw old age pension prior to April 6th 2016 could cause them to lose out very considerably, relative to the new flat rate pensioners, in some economic circumstances. Example when the CONSUMER PRICE INDEX is static or falls as in the figure used in the 2016 rise.

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