Next Prime Minister must provide assurance and certainty on Pensions Triple Lock, says Older People’s Commissioner
The Older People’s Commissioner for Wales is calling on the new Prime Minister to commit to the Pensions Triple Lock to provide assurance and certainty to older people. Her full statement is below:
Older People’s Commissioner for Wales, Heléna Herklots CBE, said:
“Amidst the turmoil in Westminster in recent weeks, we’ve seen several conflicting government statements about whether the Pensions Triple Lock will be maintained in order to uprate the State Pension in line with inflation, which has now risen to over 10%.
“This will have left many older people feeling worried that they will see a further real terms cut to their incomes, creating further financial pressures and significant stress and anxiety.
“We know that older people are already cutting back on essentials in an effort to save money, something that puts people’s health at risk, and this will be exacerbated if there is continued uncertainty relating to the Triple Lock that means older people are unable to plan their finances for the months ahead.
“I’m calling on the next Prime Minister to make a firm, unequivocal commitment to maintaining the Triple Lock for this year and future years, delivering on the pledge made in their 2019 manifesto, in order to provide assurance and certainty to older people.
“Ensuring that action is taken so that the State Pension increases in line with inflation will be crucial to protect the health and well-being of hundreds of thousands of older people throughout the UK, and this must be a priority for the new Prime Minister when they take up office next week.
“In the longer-term, the UK Government must also review and permanently upgrade the Winter Fuel Payment, recognising the decrease in its real terms value since it was last set, and undertake a comprehensive review of the State Pension and other entitlements to ensure that older people’s incomes are sufficient to provide a decent standard of living.”