Pensioners Protest as “Triple Lock” Threatened – The London Economic

Pensioners Protest as “Triple Lock” Threatened

Pensioners from the National Pensioners Convention protested outside Westminster today demanding the retention of the “triple lock” guarantee on state pension rises and warning against cuts in social care.

Former Work and Pensions Secretary Iain Duncan Smith recently said that the “triple lock” safeguard, which prevents pensions from falling in value, should be scrapped to help ease cuts to working age benefits.

He said it was important to cut the safeguard in order to tackle the “misbalance between the generations” by reining in “out-of-control” spending on pensions.

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Former pensions minister Baroness Altmann has also argued that the triple lock policy has “outlived its purpose” and should be abandoned from 2020.

In an interview earlier this year she said:  “The triple lock is a political construct, a totemic policy that is easy for politicians to trumpet, but from a pure policy perspective keeping it forever doesn’t make sense.”

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2 Responses

  1. M Smith

    Hi
    As 78 year old pensioners we would like to point out that the triple lock only applies to the basic pensions and that brings it down to about 1.4% in real terms.
    Secondly it only amounts to an extra £3 to £4 per week which is equal too or less than the 1% given to most of the working population.
    We have the same basic domestic costs, and every year we have had to reduce our lifestyle to balance our budgets.
    After 55 years working,with pitiful private pension, we deserve a dignified last few years.

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