Mel Stride, the work and pensions secretary, has said that the triple lock for pensions is not sustainable in the very long term.
Stressing that the government remains committed to it for now, he conceded that eventually it would prove too expensive.
Maintaining the triple lock on state pensions, which acts principally as a modest safety net for the poorest pensioners, could add as much as £45bn a year to the welfare bill by 2050, putting “insurmountable pressure” on the government to increase the minimum retirement age, according to the Institute for Fiscal Studies.
We’re interested in the views of pensioners and people close to state pension age on the state pension system, and whether they financially rely on the state pension or not. Do you think the triple lock should be maintained or scrapped to relieve the taxpayer?
We’d also like to hear whether older people think the eligibility rules for the state pension should be changed, so that it becomes a means-tested benefit instead of being paid out to everyone who currently qualifies, including those who don’t need it.
