Restore UK has become the latest political party to announce it would scrap the state pension triple lock, raising the prospect of the mechanism being abolished if the right of British politics secures power. The party, led by Rupert Lowe, has pledged to replace the triple lock with a link to the Consumer Price Index (CPI) inflation rate, framing the move as a necessary step for "inter-generational fairness."
Policy Details: CPI Link Instead of Triple Lock
Under the party's policy plan, titled The Wealth of Our Nation, the state pension would no longer rise by the highest of inflation, average earnings growth, or 2.5%. Instead, it would be pegged solely to CPI inflation, ensuring pensioners' incomes maintain their purchasing power without the additional boosts provided by the triple lock.
The plan states: "The state pension is secure with Restore. However, we will end the triple lock and instead link the state pension to CPI. Pensioners' incomes will thus be secure in terms of their purchasing power."
Lowe Acknowledges Political Cost
Rupert Lowe admitted that scrapping the triple lock would be a "difficult decision" and would "probably not" attract more votes at the next general election. He added: "These actions are the only way we can leave a better country to our grandchildren than the one handed to us."
The announcement comes amid tensions between Lowe and Reform UK leader Nigel Farage. Lowe has accused Farage of lying about private conversations, potentially derailing talks about a political pact before they have even begun.
Public Spat with Farage
In a post on X, Lowe detailed the dispute: "I do not want to make private conversations public, but Farage has just done so at a national press conference. He just stated he said to me yesterday 'Shall we have a call?' Sadly, that is just a lie. Yesterday at 10.30 Nigel messaged me, saying the following three words. 'Will call later'. The evidence is below. I have received no call. Senior Reform figures then went public to rubbish my offer."
Despite the rift, Lowe left the door open for cooperation: "The offer remains open to Nigel and Reform. Although outright lying about our private conversations does not help that. For Restore Britain, it will always be country before party - ahead of any personal differences or past disagreements we have."
Implications for Pensioners and Politics
The triple lock has been a cornerstone of UK pension policy since 2010, ensuring the state pension rises by the highest of inflation, earnings, or 2.5%. Scrapping it would likely mean lower increases in some years, affecting millions of pensioners. Restore's proposal aligns with criticisms that the triple lock is costly and benefits older generations at the expense of younger ones.
Political analysts suggest that Restore's stance could influence the broader right-wing vote, particularly if it forms part of a future coalition or pact with Reform. However, the public spat with Farage may complicate such alliances, as trust between the two leaders has clearly deteriorated.
What Happens Next
With a general election expected within the next two years, pension policy is likely to be a key battleground. Restore's commitment to scrap the triple lock marks a significant departure from the Conservative Party's position, which has repeatedly pledged to maintain it. Other parties, including Labour and the Liberal Democrats, have also expressed support for the triple lock, making Restore's stance a distinct outlier.
As the political landscape evolves, pensioners and voters will be watching closely to see whether this proposal gains traction or fades amid the ongoing feud between Lowe and Farage. The outcome could reshape the debate on inter-generational fairness and the future of state pension provision in the UK.
