Submitted on Saturday 7th January 2017
Published on Monday 23rd January 2017
Current status: Closed
Closed: Tuesday 2nd May 2017
Signatures: 29
Add Euro Indexation to the State Pension triple-lock
Since the Brexit vote on 23 June, the value of the pound has been falling. Those on private pensions have seen a surge in value as international companies and world markets prosper. Average earnings and the consumer price index will remain muted, leading to a fall in the value of the State Pension.
On 23 June, the pound was worth 1.30169 Euro (ref. OANDA) - by the end of the year it had lost more than 10% of its value. This trend is likely to continue. By November, the CPI was only 1.2% (ref. ONS). - The Pensions Committee is thinking of scrapping the triple-lock, but we suggest replacing "or 2.5%" with "or 1.30169/FX" where FX is the value of the Pound in terms of the Euro.
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