What is the triple lock and what difference does it make to pensioners?

Inflation is back in double digits as uncertainty surrounds the future of the pensions triple lock.

Vicky Shaw, PA Personal Finance Correspondent

Wed, 19 October 2022 at 5:45 pm·2-min read

Here is a look at how the triple lock normally works and what difference it could make to pensioners.

– What does the triple lock do?

The triple lock guarantees that the state pension rises every year in line with inflation, earnings or 2.5% – whichever is highest. September’s inflation figure, at 10.1%, would normally be part of the calculation.

The policy helps to ensure pensioners’ living standards keep up with those of the wider population. More than 12 million people receive the state pension.

(PA Graphics)

– What has happened to the triple lock?

The triple lock was previously paused for a year, as the coronavirus pandemic had distorted the wages element of the triple lock. Pensions rose by 3.1% this year.

– So what is happening now?

Prime Minister Liz Truss had previously stated she was committed to the triple lock.

However, there have been indications that ministers could ditch the commitment, with new Chancellor Jeremy Hunt searching for ways to plug a multi-billion pound black hole in the wake of the turmoil following the mini-budget.

Liz Truss previously stated she was committed to the triple lock (Daniel Leal/PA)

– Why would axing the triple lock be controversial?

Politically, it could inflict further damage, following a string of recent policy u-turns. It was a Conservative manifesto pledge and its previous suspension had been viewed as a one-off due to the distorting impacts of the pandemic.

Ditching the promise would affect some of the most vulnerable people in society, many of whom live on fixed incomes, as high inflation wreaks havoc with household budgets.

However, some may make arguments around “intergenerational fairness”, with many working age people receiving pay rises well below the current rate of inflation.

– What impact would there be in cash terms if pensions rose in line with earnings next April instead of inflation?

If pensions rose by 5.5%, in line with earnings, the weekly new state pension would be £195.35. But if it rose in line with Consumer Prices Index (CPI) inflation, at 10.1% it would be £8.50 per week higher, at £203.85.

This would add up to a difference of £442 over the course of a year in pensioners’ pockets.

What it the triple lock and what difference does it make to pensioners? (yahoo.com)

Triple lock pledge will cost Truss £11bn as inflation hits 10.1pc - live updates

Eir Nolsoe

Wed, 19 October 2022 at 7:07 pm

Liz Truss will be forced to find more than £11bn next year to commit to the pensions triple lock pledge and as much as £13bn to keep working-age benefits in line with the cost of living, as inflation soars to 10.1pc.

The embattled Prime Minister faces a fresh financial blow from payments to the elderly if she restores the key Conservative pledge to increase the state pension by the highest of inflation, average earnings or 2.5pc.

But Ms Truss is now considering ditching the promise which was contained in the 2019 Conservative election manifesto because of the squeeze on public finances in the wake of the mini-budget fiasco.

September’s inflation figure is used to set the following April’s pension rise.

In a case of bad timing for the Government’s finances, consumer prices were up 10.1pc last month, the joint-highest level since the early 1980s.

In April 2022 the Government increased the pension by 3.1pc, in line with inflation, rather than the much higher pace of earnings which had been distorted by the pandemic lockdowns and the furlough scheme.

Triple lock pledge will cost Truss £11bn as inflation hits 10.1pc - live updates (yahoo.com)

The 20 easiest UK unis to get into

 It’s official: These are the 20 easiest unis to get into

Time to get me a second degree

3 DAYS AGO

Summer Goodkind

 News
UK

Let’s be real – for all its ups and downs, uni is no easy ride. But what if we could make part of that journey easier? What if – when stressing about your A-Levels – you could selectively choose a uni based on how easy it is to get into? Well, once again, we’ve got your back.

Save The Student analysed UCAS data to determine the percentage of students who receive an offer after applying to each university in the UK, proving once and for all which unis are the easiest to get into.

Aberystwyth University tops the list as the easiest uni to get into – with a 96.6 per cent offer rate. Guess it’s a hard job convincing students to come to Wales as it is.

Meanwhile, Exeter is the only Russell Group uni to make the cut, with an 87.5 per cent offer rate.

Check out the 20 easiest unis to get into below:

1. Aberystwyth University – 96.6 per cent

2. Bishop Grosseteste University – 94.5 per cent

3. Ravensbourne University London – 92.9 per cent

4. University for the Creative Arts – 92.5 per cent

5. Plymouth College of Art – 91.1 per cent

6. University of Sussex – 89.3 per cent

7. University of Roehampton – 89.3 per cent

8. Northumbria University – 85.5 per cent

9. Nottingham Trent University – 88.6 per cent

10. University of Kent – 88.6 per cent

11. York St John University – 88.5 per cent

12. Liverpool Hope University – 88.1 per cent

13. Coventry University – 87.8 per cent

14. London Metropolitan University – 87.5 per cent

15. University of Exeter – 87.5 per cent

16. University of Wales Trinity Saint David – 87.4 per cent

17. Newman University, Birmingham – 87.0 per cent

18. University College Birmingham – 87.0 per cent

19. University of Winchester – 86.7 per cent

20. Cardiff Metropolitan University – 86.7 per cent

Related stories recommended by this writer:

• If you wanted to earn more than Russell Group grads, you should’ve gone to these unis

• If you go to any of these Russell Group unis then you’re most likely to end up unemployed

• Ranked: The 50 unis you should’ve gone to if you wanted an easy 2:1

https://thetab.com/uk/2022/01/12/its-official-these-are-the-20-easiest-unis-to-get-into-234908

Ranked: The 50 unis you should’ve gone to if you wanted an easy 2:1

Easy for you, maybe

1 MONTH AGO

Summer Goodkind

 News
UK

As a hungover fresher, missing yet another 9am lecture, you’re always telling yourself “it’s ok, I only need a 2:1”. That sweet ignorance is quickly shattered into your first term of second year though, when you suddenly clock how difficult that 2:1 might actually be.

Uni’s all about balance after all, right? Who needs to come out with a first if you can come out with a nice group of mates, fun memories from all your nights out and a degree good enough to bag you a decent job.

Well, luckily for you, we’ve put together a list of the 50 unis where you’re most likely to get the holy 2:1.

Based on data from HESA, stats show the uni you should’ve gone to get an easy 2:1 is LSE – with 95 per cent of students bagging one. Failing that, it’s Durham. A classic insurance choice.

Maybe it’s easy there or maybe they only take smart, motivated people. Who knows – but if you want to play the odds, then it’s worth knowing the percentages.

Read More

These are the 50 unis you should have gone to if you wanted an easy 2.1:

A Flourish data visualization

Note: We excluded unis with under 500 graduates in a year, as HESA rounds totals to the nearest five and small totals can be distorted

Related stories recommended by this writer:

• These are the 50 hardest unis in the UK to get a first from

• These are the UK universities producing the most millionaires

• Named and shamed: The 17 Russell Group unis failing to recruit enough working class students

https://thetab.com/uk/2021/12/15/ranked-the-50-unis-you-shouldve-gone-to-if-you-wanted-an-easy-21-232348

Related stories recommended by this writer:

• Male grads are 40 per cent more likely than women to earn £30k and above

• These are the subjects which will earn you the most money straight out of uni

• These are the unis you should’ve gone to if you wanted to earn £40k out of uni

These are the unis you should’ve gone to if you wanted to earn £40k out of uni

Don’t look at this table if you go to Leeds, ngl

1 YEAR AGO

Greg Barradale

 News
UK

You know what’d be nice: earning £40k straight out of uni. Fortunately, there’s now data showing which uni you really should have gone to if you wanted to make that a reality.

Stats collected by HESA on 2017/18 grads show that nearly a third of Imperial grads earn over £39,000.

Just one in 50 Queen’s University Belfast grads surveyed by HESA bring in the same amount.

Cambridge narrowly tops Oxbridge in the rankings, but both are beat out by LSE, proving every stereotype about the London consultant factory is grounded in lucrative reality.

Giving thanks to the business school legends, Warwick are also up there, and Bristol won’t be reliant on daddy’s money for too long.

Check out the full table to feel quite bad about your prospects:

Related stories recommended by this writer:

• Revealed: This is how much your uni is spending to test students for Covid

• Five students suspended from uni after ‘horrifying’ firework incident on campus

• Four students kicked out of their halls because they broke uni Covid rules

https://thetab.com/uk/2020/11/06/these-are-the-unis-you-shouldve-gone-to-if-you-wanted-to-earn-40k-out-of-uni-181506

These are the subjects which will earn you the most money straight out of uni

Is it me or did vets just become super attractive?

2 MONTHS AGO

Summer Goodkind

 News
UK

Some people go to uni for the nightlife, to make friends, because they have no idea what the hell else to do and some, believe it or not, to secure good career prospects for the future. If you’re one of the latter, it’s likely you’ve already done your research and could name the highest earning subjects with your eyes shut. If you’re like the rest of us though- it’s time to get clued up.

We’ve analysed HESA’s graduate salary data to find the median earnings for each grads from each uni subject. To find this, HESA asked what 2018/19 grads are up to, so – pandemic aside – it’s a pretty good guide to what you’re looking at raking in.

Turns out vets don’t just go into their career because they love animals- they’re earning more than any of their uni mates by far- a solid £31,000. The medics and dentists don’t follow too far behind at £26,750, but for all the clubbing nights they missed to fit in yet another study sesh, I hope it’s worth it.

Art and design students rest firmly at the bottom of the list, and can expect to earn about £18,333 a year when they graduate.

Surprisingly, law’s not exactly up there- with average earnings standing at £19,833. You’re agriculture mates are currently laughing at you- earning on average 500 quid more than you. Peak.

How much will your degree subject earn you out of uni?

Medicine & dentistry –  £26,750

Subjects allied to medicine-  £20,667

Biological sciences-  £19,833

Veterinary science-  £31,000

Agriculture & related subjects-  £20,333

Physical sciences-  £20,833

Mathematical sciences-  £21,833

Computer science-  £21,667

Engineering & technology-  £22,667

Architecture, building & planning- £20,667

Social studies-  £21,333

Law-  £19,833

Business & administrative studies-  £21,167

Mass communications & documentation- £19,167

Languages- £20,500

Historical & philosophical studies-  £20,500

Creative arts & design- £18,333

Education-  £19,833

Combined- £21,000

Related stories recommended by this writer:

• These are the unis you should’ve gone to if you wanted to earn £40k out of uni

• These are the uni cities where students rely on daddy’s money the most

• The Russell Group unis where you’re most likely to be unsatisfied with your course

Summer Goodkind

 News

https://thetab.com/uk/2021/11/19/these-are-the-subjects-which-will-earn-you-the-most-money-straight-out-of-uni-228971

BBC: Coronavirus variant fear sparks Africa travel curbs

Travellers arriving in England from several southern African countries will have to quarantine amid warnings over a new coronavirus variant.

Published

1 hour ago   26 November 2021   BBC

Related Topics

• Coronavirus pandemic

IMAGE SOURCE,PA MEDIA

Travellers arriving in England from several southern African countries will have to quarantine amid warnings over a new coronavirus variant.

UK Health Secretary Sajid Javid said from 12:00 GMT on Friday six countries would be added to the red list, with flights being temporarily banned.

One expert described the variant, known as B.1.1.529, as "the worst one we've seen so far", and there is concern it has the potential to evade immunity.

No cases have been confirmed in the UK.

Only 59 confirmed cases have been identified in South Africa, Hong Kong and Botswana so far.

• What do we know about this new variant?
• What are the latest changes to UK travel rules?

All flights from South Africa, Namibia, Zimbabwe, Botswana, Lesotho and Eswatini are being suspended.

Mr Javid said that scientists were "deeply concerned" about the new variant but more needed to be learned about it.

But he said the variant has a significant number of mutations, "perhaps double the number of mutations that we have seen in the Delta variant".

He added: "And that would suggest that it may well be more transmissible and the current vaccines that we have may well be less effective."

He said adding the six countries to the red list was about "being cautious and taking action and trying to protect. as best we can, our borders".

From 12:00 on Friday non-UK and Irish residents will be banned from entering England if they have been in the six countries in the past 10 days.

Any British or Irish resident arriving from the countries after 04:00 on Sunday will have to quarantine in a hotel, with those returning before that being asked to isolate at home.

Those who have returned in the last 10 days are being asked to take a PCR test by the UK Health Security Agency (UKHSA).

The flight ban will remain in place until the hotel quarantine system is up and running.

One scientist told me this was the worst variant they'd seen - look at it on paper and it's not hard to see why.

It is the most heavily mutated variant so far and is now radically different to the form that emerged in Wuhan, China.

That means vaccines, which were designed using the original, may not be as effective.

And some of its mutations are known to increase the ability of coronaviruses to spread.

But there have been many variants that looked bad on paper before, but haven't taken off.

There are early signs this virus is spreading in South Africa and may already be in every province in the country.

But the big questions - how much does it evade vaccines, is it more severe, does it spread faster that Delta - are unanswerable for now.

• Read more from James.

BBC Africa correspondent Andrew Harding said scientists in South Africa were trying to understand the mutations of the new variant.

He said there was unhappiness at the new red listing by other countries, with scientists saying the country needed more support and more reward for spotting the new variant.

Experts from the World Health Organization (WHO) are meeting South African officials on Friday to assess the evolving situation in the country.

The new variant, which has been designated a new variant under investigation by the UKHSA, is heavily mutated and the confirmed cases are mostly concentrated in one province in South Africa.

Scientists say the variant has 50 mutations overall and more than 30 on the spike protein, which is the target of most vaccines and the key the virus uses to unlock the doorway into our body's cells.

Experts in South Africa have said the variant is "very different" to others that have circulated, with concerns that it could be more transmissible but also able to get around parts of the immune system.

Prof Ravi Gupta, from the University of Cambridge, said the new variant had the potential to escape immunity and have increased infectivity.

Imperial College London's Prof Neil Ferguson said it was concerning the new variant appeared to be "driving a rapid increase in case numbers in South Africa" and said the move to restrict travel was "prudent".

But he said it was not clear if the variant was more transmissible or resistant to vaccines and therefore it was too early to judge the risk it poses.

At the moment around 500 and 700 people are travelling to the UK from South Africa each day, but this figure was likely to have increased as the festive period began.

British Airways said it was contacting affected customers and Virgin Atlantic said it would be reviewing its schedule for South Africa for the coming week, with flights from Johannesburg to Heathrow cancelled between 12:00 on Friday and 04:00 on Sunday.

All the countries that remained on the UK's red travel list were removed in October.

Each UK nation sets its own policy but they have generally followed the same rules for past announcements.

Scotland is following the UK government's decision, with anyone arriving from the six countries having to self-isolate and take two PCR tests, while hotel quarantine will be in place from 04:00 GMT on Saturday.

Currently people travelling to the UK who are fully vaccinated do not need to take a Covid test before setting off but do need to take a lateral flow test two days after arrival and fill out a passenger locator form.

Those who are not fully vaccinated and are over 18 must self-isolate at home for 10 days and take a Covid test in the three days before travelling as well as on day two and day eight of their return.

SOURCE