IFS claim ‘double lock’ on the state pension would still be a bad idea


Originally published at: https://whichinvestmenttrust.com/ifs-claims-double-lock-on-the-state-pension-would-still-be-a-bad-idea/

On the basis of Theresa May’s answers at last week’s Prime Minister’s Questions, there has been significant speculation about whether the Conservative manifesto will pledge to maintain the ‘triple lock’ on the basic state pension (and the new single-tier pension) – guaranteeing that the annual rise will be the highest of inflation, average earnings growth…


It’s crazy that we still have this scarily high deficit and yet we’re spending so freely on the pension triple lock. It’s absolutely a good thing that pensioners aren’t in poverty, but we shouldn’t be spending this much on pensions. People should be compelled to save in to a pension to provide for themselves.

The reason for it of course is that pensioners vote, while younger folk vote much less. So get out and vote everyone!