Gainsborough MP Sir Edward Leigh has questioned whether triple lock pension policy is affordable in the long-term.
The triple lock pension has been a government policy for more than a decade and is designed to ensure that pensions keep pace with the cost of living.
It guarantees that the state pension will rise by the highest of one of three indicators – the rate of inflation, the average increase in wages across the UK, or by 2.5%. The September figure of 10.1% is said to be the amount by which the state pension will rise from April 2023.
Gainsborough MP Sir Edward Leigh questioned the long-term affordability of the policy saying “it will bankrupt the nation”.
In his Gainsborough constituency more than 23,000 people claim the state pension and many more are approaching retirement.
One woman told BBC Look North: “A lot of elderly people in this area are at home all day with the heating on and they are getting 10%, but we know that the central heating bill, and the electric and food is more than 10%.”
Sir Edward Leigh also suggested a social insurance model instead of the NHS, slammed people who are ‘choosing not to work’ and demanded small boat migrants are ‘detained, arrested, dealt with quickly and deported’
Read more on “State pension triple lock ‘utterly unaffordable’ and will ‘bankrupt UK’, Tory MP declares” from the Mirror Online.
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