Article preview: One of the most attractive features of the state pension is the so-called ‘triple lock’ guarantee. This government promise sees the income from a state pension in payment increased each year in line with the highest of price inflation, earnings growth or 2.5%. This protection from price inflation does not however apply to more than half a million recipients of a UK state pension who are living abroad. The calculation is according to new figures released by the Department for Work and Pensions, who have calculated the cost of uprating UK state pensions for overseas residents.
Missing out on the state pension triple lock
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This 406 word blog post looks at the state pension triple lock and its application for UK citizens living overseas. Includes a comment from Helen Morrissey, pension specialist at Royal London. Written on 14th February 2019.
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