{"id":980232,"date":"2026-05-23T16:46:39","date_gmt":"2026-05-23T16:46:39","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/980232\/"},"modified":"2026-05-23T16:46:39","modified_gmt":"2026-05-23T16:46:39","slug":"dwp-told-to-axe-perk-for-all-state-pensioners-which-is-worth-1300","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/980232\/","title":{"rendered":"DWP told to axe perk for all state pensioners which is worth \u00a31,300"},"content":{"rendered":"

A 15-year-old rule for state pensioners should be axed, personal finance experts and thinktanks are warning.<\/p>\n

12:26, 18 May 2026Updated 14:43, 18 May 2026<\/p>\n

\"DWP<\/p>\n

DWP told to axe perk for all state pensioners which is worth \u00a31,300<\/p>\n

The Department for Work and Pensions has been urged to contemplate scrapping a long-standing rule for state pensioners.<\/a> A 15-year-old rule for state pensioners should be axed, personal finance experts and thinktanks are warning.<\/p>\n

Raising the state pension by inflation – instead of the Triple Lock – could save \u00a319 billion a year by 2035, according to research by a think tank. Since 2011 the state pension has risen by the highest of three measures \u2013 inflation, wage growth, or 2.5 per cent.<\/p>\n

Pensioners are \u00a31,300 a year better off than they would have been if the state pension had risen only in line with inflation over the past decade.<\/a><\/p>\n

READ MORE Petrol and diesel drivers face big ban under Labour with exact year announced<\/a><\/strong><\/p>\n

Critics say that it has become unaffordable and is forecast to be \u00a310bn more expensive a year than forecast, based on Institute of Fiscal Studies (IFS) figures.<\/p>\n

The Intergenerational Foundation is calling for the state pension to increase with inflation until 2030-31 then by the average of inflation and wage growth.<\/p>\n

It calculates that this would save \u00a319bn a year by 2035, \u00a328.5bn a year by 2040 and \u00a338bn a year by 2045.<\/p>\n

These savings should be directed to poorer pensioners through a new low-income pension supplement worth \u00a330 a week (\u00a31,560 a year), says the foundation.<\/p>\n

Conor Nakkan from the foundation said: \u201cThe triple lock may have been introduced with good intentions but it has become an expensive and poorly targeted policy.<\/p>\n

\u201cIt now delivers large increases to all pensioners, including millions who are already well-off, while younger generations face stagnant living standards, high housing costs and a growing tax burden.\u201d<\/p>\n

The Tony Blair Institute, another think tank, has estimated that it could rise as high as 7.8 per cent of GDP by 2070 if the triple lock remains.<\/p>\n

The IF concludes that action is now urgent, warning that sticking with the current system risks \u201cleaving younger and future taxpayers shouldering an increasingly heavy burden\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"A 15-year-old rule for state pensioners should be axed, personal finance experts and thinktanks are warning. 12:26, 18…\n","protected":false},"author":2,"featured_media":980233,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3093],"tags":[51,1267,474,2499,16,15],"class_list":["post-980232","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-dwp","tag-finance","tag-personal-finance","tag-uk","tag-united-kingdom"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/116624910311367355","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/980232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=980232"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/980232\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/980233"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=980232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=980232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=980232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}