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Tony Blair Institute Proposes Lifespan Fund to Replace State Pension Triple Lock
The think tank says the new model would let people build up support through work, caring and education, while easing long-term pension costs.
- The Tony Blair Institute has called for the State Pension Triple Lock to be replaced by a flexible Lifespan Fund, arguing the current system is outdated and increasingly unaffordable for Britain.
- TBI reports suggest the number of State Pensioners will surge from 12.6 million to nearly 19 million by 2070, potentially increasing State Pension costs from 5% of GDP to 7.8%.
- By allowing People to build support through active contributions, the Lifespan Fund could potentially avoid £66bn a year in extra costs by 2070, according to TBI.
- Caroline Abrahams, charity director at Age UK, urged the government to retain the Triple Lock, noting that 3 in 10 State Pensioners currently struggle financially.
- Ahead of the next Election, TBI is urging cross-party talks to debate reform, though Nigel Farage of Reform has pledged to keep the Triple Lock while cutting other welfare.
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29 Articles
29 Articles
Cambridge News+2 Reposted by 2 other sources
Government told to scrap triple-lock and replace state pension
The plan would replace the pension with a 'lifespan fund'
·Cambridge, United Kingdom
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Coverage Details
Total News Sources29
Leaning Left6Leaning Right2Center16Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 25%
C 67%
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