Tag Archives: general election

The ‘triple lock’ and intergenerational fairness

Gordon and Margaret

Today Age UK launches its General Election campaign – Dignity in Older Age (www.ageuk.org.uk/generalelection) – which aims to tackle some of the key issues that millions of older people continue to face. Things like difficulties accessing the care and support they so desperately need, living in poverty and struggling to make ends meet, and facing a later life of loneliness.

Throughout the campaign we’ll be covering some of the issues in depth, beginning with Caroline Abrahams on why having a decent income in later life is so important.

What’s the State Pension worth on average? Not surprisingly, most non-retired people don’t know, and the result is that when the ‘triple lock’ is discussed some rather important contextual information like this is usually absent.

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2015 in retrospective

FireworksThe pollsters, pundits and political commentariat had a bad year in 2015. Events did not follow conventional lines.  Continue reading

Why we need the triple lock

440x210_pound-coins In a surprise announcement at the start of 2014 David Cameron, the Prime Minister, said that maintaining the ‘triple lock’ for the basic state pension will be a key part of the Conservative’s next election manifesto. This would mean that, at least until 2020, the basic state pension would be increased annually by the rise in prices, earnings or 2.5 per cent – whichever is higher. In response the Labour leader Ed Miliband has also said he is committed to the triple lock.

Reaction has been variable. Some newspapers immediately suggested this would affect other benefits such as the winter fuel payment – the Daily Mail’s headline was ‘Turmoil over OAP benefits’. The Independent welcomed the announcement but said it does not go far enough pointing out that the basic pension is still only £110 a week.

Alternatively, others have focussed on what this means for younger people with the Intergenerational Foundation stating the move is unaffordable and ‘betrays’ the younger generation. Continue reading