>The triple lock, for those who need a reminder, was a Lib Dem policy adopted by the 2010-15 coalition, which guaranteed that the state pension would rise each year by the highest out of inflation, wage rises and a 2.5 per cent floor. In other words, it would consistently outgrow the economy, workers’ earnings and indeed every other benefit.
>The justification was threefold. The value of the state pension had fallen over time. Pensioner poverty was a real problem. And it wouldn’t cost much: one of those involved in the coalition negotiations told me the civil servants priced it at just £50 million a [year.Today](http://year.Today) none of those arguments holds. Thanks to the triple lock, the value of the state pension has risen hugely: up 10.1 per cent in 2023, 8.5 per cent in 2024 and a further 4.1 per cent this April. At the same time, pensioner poverty is much less of a problem: once housing costs are taken into account, OAPs are now less likely to be below the poverty line than those of working age.Meanwhile, that £50 million figure has proved hilariously optimistic. The Institute for Fiscal Studies estimated in 2023 that the triple lock had added £11 billion a year to the cost of the state pension — and counting. So why keep it?
> The argument that gets trotted out (usually by angry pensioners) is that despite these increases, Britain still has one of the lowest state pensions in Europe. But this is hugely misleading.
The UK pension is still one of the worst in Europe.
15th in the table just above breakeven point against UK cost of living.
And whichever government abolishes the triple lock loses the votes of pensioners across the board and that means no chance of winning an election
Refreshing to see this in the Sunday Times of all places. since half their readership are likely retired.
Make it so that if you’ve never worked a day in your life you don’t get any pension and are left to starve to death, that’ll save some money
GOVT Report : **How have pensioner incomes and poverty changed in recent years**
FINDINGS
2. **Since 2011, average pensioner incomes have been growing at a similar rate to working-age incomes.** Average incomes for pensioners – which are now very similar to average incomes below state pension age – grew by 12% from 2011–12 to 2022–23, driven by higher state and private pension incomes. This growth was almost identical to the growth in average working-age incomes of 13% over the same period – driven up by rising incomes from employment.
3. **However, since 2011, income growth for poor pensioners has lagged behind the population as a whole.** From 2011–12 to 2022–23, incomes for poor pensioners (at the 10th percentile of the pensioner income distribution) rose by only 5% (after adjusting for inflation). This is in part because poor pensioners have benefited from neither the rises in employment income nor the rises in private pension income that pushed up incomes for people on middle incomes.
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>The triple lock, for those who need a reminder, was a Lib Dem policy adopted by the 2010-15 coalition, which guaranteed that the state pension would rise each year by the highest out of inflation, wage rises and a 2.5 per cent floor. In other words, it would consistently outgrow the economy, workers’ earnings and indeed every other benefit.
>The justification was threefold. The value of the state pension had fallen over time. Pensioner poverty was a real problem. And it wouldn’t cost much: one of those involved in the coalition negotiations told me the civil servants priced it at just £50 million a [year.Today](http://year.Today) none of those arguments holds. Thanks to the triple lock, the value of the state pension has risen hugely: up 10.1 per cent in 2023, 8.5 per cent in 2024 and a further 4.1 per cent this April. At the same time, pensioner poverty is much less of a problem: once housing costs are taken into account, OAPs are now less likely to be below the poverty line than those of working age.Meanwhile, that £50 million figure has proved hilariously optimistic. The Institute for Fiscal Studies estimated in 2023 that the triple lock had added £11 billion a year to the cost of the state pension — and counting. So why keep it?
> The argument that gets trotted out (usually by angry pensioners) is that despite these increases, Britain still has one of the lowest state pensions in Europe. But this is hugely misleading.
The UK pension is still one of the worst in Europe.
15th in the table just above breakeven point against UK cost of living.
We are the 6th biggest ecconomy in the world.
[https://www.almondfinancial.co.uk/pension-breakeven-index-how-does-the-uk-state-pension-compare-to-the-rest-of-europe/](https://www.almondfinancial.co.uk/pension-breakeven-index-how-does-the-uk-state-pension-compare-to-the-rest-of-europe/)
BELOW IS A UK GOVT DOCUMENT.
Comparisons against OECD countries which show how poor the UK state pensions are.
[https://researchbriefings.files.parliament.uk/documents/SN00290/SN00290.pdf](https://researchbriefings.files.parliament.uk/documents/SN00290/SN00290.pdf)
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And whichever government abolishes the triple lock loses the votes of pensioners across the board and that means no chance of winning an election
Refreshing to see this in the Sunday Times of all places. since half their readership are likely retired.
Make it so that if you’ve never worked a day in your life you don’t get any pension and are left to starve to death, that’ll save some money
GOVT Report : **How have pensioner incomes and poverty changed in recent years**
FINDINGS
2. **Since 2011, average pensioner incomes have been growing at a similar rate to working-age incomes.** Average incomes for pensioners – which are now very similar to average incomes below state pension age – grew by 12% from 2011–12 to 2022–23, driven by higher state and private pension incomes. This growth was almost identical to the growth in average working-age incomes of 13% over the same period – driven up by rising incomes from employment.
3. **However, since 2011, income growth for poor pensioners has lagged behind the population as a whole.** From 2011–12 to 2022–23, incomes for poor pensioners (at the 10th percentile of the pensioner income distribution) rose by only 5% (after adjusting for inflation). This is in part because poor pensioners have benefited from neither the rises in employment income nor the rises in private pension income that pushed up incomes for people on middle incomes.
[https://ifs.org.uk/publications/how-have-pensioner-incomes-and-poverty-changed-recent-years](https://ifs.org.uk/publications/how-have-pensioner-incomes-and-poverty-changed-recent-years)
I will support the triple lock on one condition ONLY.
It is signed in BLOOD that the state pension age can not be pushed higher , EVER.
Otherwise fuck off
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