Pensioners must not be punished for Britain’s economic problems, Keir Starmer has been warned. New polling found voters of all ages overwhelmingly oppose cutting the state pension or increasing the retirement age – despite calls from some experts for a massive reduction in pensioner spending to balance the public finances.
The idea that future pensioners should accept a lower standard of living, for example by cutting the state pension, is opposed by 78% of voters. That includes 69% of younger people aged 18 to 29, who are against targeting pensioner living standards – perhaps because they realise they will be old one day themselves.
And further increases to the state retirement age are opposed by 62% of people of all ages. It is currently 66, and due to rise to 68 by 2046.
But 80% supported measures to move people off benefits and into work in order to cut the welfare bill, according to the survey by Find Out Now and Electoral Calculus for Property Chronicle.
Pensioner spending, including the state pension and benefits aimed specifically at older people, accounts for half the UK’s welfare bill and is set to rise from £151.0 billion in 2024-25 to £195.4 in 2030-31.
Experts warned that the Government could be forced to target pensioners even if measures prove unpopular with voters of all ages.
Martin Baxter, chief executive of Electoral Calculus, said “The public looks like the proverbial ostrich with its head stuck in the sand. The ageing demographics of the country mean that hard decisions will need to be taken sooner or later, but most people seem to be in denial about that.
“The measures which would help are mostly very unpopular with the public.”
A number of think tanks have called on the Government to cut pensioner spending. The International Longevity Centre said the state pension age should raised to 70 and the Centre for Social Justice has called for the triple lock to be scrapped, which would be likely to lead to smaller increases in the state pension in future.