The current guarantee for retiree income in the UK will be addressed on Sept 29 by Andy Burnham during his party conference address. He will signal the end of the state pension triple lock in the speech, according to reporting by The Telegraph, marking a shift in how government benefits for pensioners are adjusted.

The announcement has already drawn attention from online supporters of the Labour party who are anticipating the policy move. Burnham is scheduled to detail the termination of the triple lock mechanism, which has traditionally protected the annual increase rate of the state pension.