Pension Commission’s evidence should be used to set end date for Triple Lock 19 May 2026 Commenting on the Interim Report of the Pensions Commission published today (Tuesday), Mike Brewer, Deputy Chief Executive of the Resolution Foundation, said: “Auto-enrolment has transformed pension saving across Britain. But as this report shows, too many low and middle earners today still face the prospect of low incomes in retirement. “In fact, many lower income families face a double savings challenge. Around two-in-five have less than £1,000 in their savings accounts, leaving them exposed to unexpected shocks like a broken boiler or major car repairs. The next phase of auto enrolment should deal with both these retirement and rainy days savings challenges. “Ultimately, the question of what a decent retirement income should be will also depend on what people get from the state. The Pensions Review should use the evidence base it has amassed to work out how much the state pension should be worth, and recommend an end date for the Triple Lock when it reaches that level. “The Triple Lock has cost three times more than initially expected and cannot continue indefinitely, especially as since 2010 the value of working-age benefits has increased at half the rate as the State Pension.”
