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Burnham says he will end pensions triple lock from 2030 to help fund national care service
- On Tuesday, Prime Minister Andy Burnham announced the state pension triple lock will be adjusted from April 2030, replacing the automatic earnings link with a double lock based on CPI inflation or 2.5% to fund a new National Care Service.
- Current policy guarantees pensions rise by the highest of inflation, average wage growth, or 2.5%, but Burnham plans to remove the earnings link to generate 'significant savings' for the National Care Service free at the point of use.
- The Institute for Fiscal Studies estimates the triple lock adds around £16 billion annually to pension spending; Burnham pledged low-income pensioners will not be 'dragged into paying income tax' during this Parliament.
- Condemning the reform, First Minister John Swinney claimed Burnham is 'repeating the mistakes of Keir Starmer,' while Reform UK leader Nigel Farage accused the Prime Minister of 'launching an offensive against our elderly.'
- Officials insist the adjusted system will maintain the state pension's value relative to earnings over time, while the National Care Service will provide care free at the point of use after the next election.
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PM Burnham unveils divisive plan to change UK pensions
UK Prime Minister Andy Burnham on Tuesday unveiled contentious plans to reform Britain's state pensions system from 2030, a politically perilous move likely to spark intense pushback. In a keynote speech at his ruling Labour party's annual conference, Burnham vowed to end the so-called "triple lock" guarantee to help fund a "landmark" new national care service. The current guarantee sees the annual pension increase by the amount whichever is hig…
'I May Pay a Political Price': Burnham To End Pension Earnings Link in 2030 To Fund Care Plan
Andy Burnham says Labour would change the state pension triple lock from 2030, potentially saving £15 billion annually by 2040 to help fund a free national care service in England.
·United Kingdom
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Total News Sources137
Leaning Left23Leaning Right12Center63Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 24%
C 64%
12%
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