Pensions triple lock scrapped for millions of Brits
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The Conservative Government broke an election pledge this week when MPs voted to suspend the commitment to raise pensions by whichever is the highest of inflation, average earnings or 2.5 percent each year. Had it been kept, the impact of the coronavirus pandemic, followed by a subsequent jump in wages as the economy reopened, would have caused pensions to rocket by eight percent.
Work and Pensions Secretary Therese Coffey branded it a “statistical anomaly” but many Express.co.uk readers claimed it was a long overdue and much-needed boost.
Others pointed out the UK’s pensioners receive considerably less generous payouts than some of their European counterparts and a large rise would help redress this imbalance.
A user called “anniejay” wrote: “This could have been a great opportunity for our pensioners to catch up somewhat with our European neighbours.
“Sadly missed and we remain one of the worst countries in Europe on pensions.
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“What a disgrace. Our pensioners have paid into the system all their lives and for many they end up in poverty.”
Meanwhile, a commentator called “BobNarch” wrote: “These Tories have been stealing from our OAPs for so long, that they now believe that it’s their right to steal whatever and as much as they want from them.
“But this time they (the sick Tories) have fallen in the toilet, and the OAPs are only waiting to pull the chain on them.”
Elsewhere “Jonjo” raged: “They can’t adhere to their manifesto pledge for pensioners who receive less per week than the unelected Lords get per day!
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A user called “Queenbee3” also gave the Tory Government short shrift over its actions.
They wrote: “The most despicable betrayal imaginable.
“After promising and enshrining in law the triple lock and then reneging on it – (they are) breaking the election manifesto.
“If you can do that then to me you cannot ever trust this government ever or, for that matter, any other party because it’s the lowest of the low and it speaks volumes of what British politics have become.
“There is absolutely nothing Boris Johnson can say as a excuse for stabbing millions of people in the back
“NEVER EVER TRUST a British mainstream party again. Boris you are beyond words, it will come back to bite you sooner or later.”
The triple lock was enshrined in legislation before MPs voted by 303 to 52 to amend it yesterday evening.
It means for the next year the state pension will only rise by the highest out of 2.5 percent or inflation.
The Bank of England expects inflation to peak at approximately four percent in 2021.
Labour abstained on the vote, saying that while they accepted an eight percent pension increase was not sustainable, there was no good reason why a better calculation for average wages could not be found.
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