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Why we should axe the triple lock

We must not discriminate against those below pensionable age

By Frank Field  

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Read more: Why the government should shelve Lifetime ISAs

Had Prospect invited me ten years ago to write about the state pension, the question in play would have been, “what can Britain do to reduce pensioner poverty?”

The triple lock—by which the state pension is increased by whichever is highest out of inflation, earnings, or 2.5 per cent—has provided a lock, stock, and barrel answer to that question.

Once housing costs are factored in, pensioners are now the least likely section of the population to be poor. The rate of…

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