Tag Archives: Resolution Foundation

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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Guest blog – Universal Credit: a missed opportunity to help older workers

This blog was contributed by Giselle Cory, Senior Research and Policy Analyst at the Resolution Foundation.

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We know that many people want to work into older age – yet many do not. So what stops them? For some, caring for family or friends can make paid work near impossible.

For others, their own poor health can be a barrier. And for families on low incomes, it may be that work simply doesn’t pay enough to warrant continuing. This can lead to trouble for families who don’t have the savings they need to maintain decent living standards into retirement.

Universal Credit (UC) the government’s flagship welfare reform, could address some of these barriers. For example, under UC low income households will receive an income boost designed to make work pay.

This system could be powerful in ensuring older people have the incentives they need to remain in work. Yet a new report from the Resolution Foundation shows that while UC offers some benefits to older workers, it also misses an opportunity to raise older people’s incentives to stay in a job, or return to work. Without these incentives, low paid work simply does not add up.

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