June 16, 2020 / 8:24 PM / a month ago

UK's Sunak prepares to break 'triple lock' state pension pledge: FT

FILE PHOTO: Chancellor of the Exchequer Rishi Sunak leaves Downing Street, following the outbreak of the coronavirus disease (COVID-19), London, Britain, May 4, 2020. REUTERS/John Sibley

(Reuters) - British finance minister Rishi Sunak is planning to break the Conservative Party's "triple lock" state pension pledge, the Financial Times reported on.ft.com/3e9TilQ, saying the Treasury fears the policy may become unaffordable due to the economic fallout of the coronavirus outbreak.

According to the triple lock pledge, state pension goes up by whichever is higher- wages, inflation or 2.5%.

Reporting by Kanishka Singh in Bengaluru; Editing by Sandra Maler

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