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Pensions triple lock may need to be 'rectified' due to coronavirus, top Tory says

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www.mirror.co.uk

The triple lock on pensions needs to be "rectified" due to coronavirus, a top Tory said today. Therese Coffey appeared to raise a question over the Tory manifesto pledge after a Covid-19 loophole threatened to hit the government with a massive bill.

The triple lock guarantees the state pension will rise by inflation, 2.5% or average earnings - whichever is highest. But average earnings fell the fastest on record in April, partly due to millions of people being put on 80% or lower furlough pay.

That suggests that after the furlough scheme ends, there might be a huge but "artificial" rise in pay in 2021, when compared to the same time this year.

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