NIPSA has warned that plans to weaken the State Pension triple lock would amount to an attack on pensioners and is demanding that the Government reconsider the proposals.
Prime Minister Andy Burnham announced that the existing triple lock would remain throughout the current Parliament but would be changed from April 2030. Under the proposals, the State Pension would continue to rise by at least inflation or 2.5%, with the Government saying it would maintain its value relative to earnings over time.
NIPSA General Secretary, Carmel Gates said:
“It would be morally abhorrent for a Labour Prime Minister to get rid of the triple lock. Governments have steered clear of this for the last 16 years, and it would be a very sad irony for something introduced by a Tory/Liberal Democrat Government to be done away with by a Labour Prime Minister regarded by some as being on the left.
“The triple lock was introduced for a reason. It recognised the contribution pensioners have made to our society. Everybody deserves dignity and financial security in their old age and to start threatening that is morally wrong.
“We should also be asking where the burden is being placed. At a time when taxing greater wealth has been ruled out by this government, it is wrong to take money from pensioners.”
The Government has said the change would generate savings to help fund its proposed National Care Service.
Carmel Gates added:
“The Prime Minister claims this will be free social care, but it will not be free if pensioners are made to pay for it through reduced pensions. A decent State Pension is not a luxury. People who have contributed to society throughout their lives have a right to security and dignity in retirement. Pensioners in the UK are already the poorest in the G7 countries and NIPSA will oppose any attempt to make pensioners poorer to balance the books.”
The warning comes on International Day of Older Persons, marked annually on 1 October to recognise the contribution of older people and promote their rights and wellbeing.
ENDS
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