State Pension modifications: Will triple lock system be deserted to stem coronavirus spending? | Personal Finance | Finance

The SMF mentioned any future austerity programme should not favour pension advantages over working-age welfare.

Scott Corfe, analysis director at SMF, mentioned: “There is a transparent case for intergenerational reciprocation in terms of assembly the fiscal prices of the disaster – one thing that may very well be a function of the coverage panorama for years to return.“

However, charity Age UK has argued eliminating the triple lock may make a whole lot of hundreds of pensioners worse off.

A staggering 700,000 individuals may fall into poverty by 2050 if the system scrapped in keeping with estimates from the Pensions Policy Institute.

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