The pensions triple lock is a travesty. Our politicians must fess up Opinion We report this week that the OECD has added itself to a growing list of institutions warning over the sustainability of Britain’s triple lock pensions system, the policy that guarantees the state pension rises annually by the highest of inflation, earnings growth or 2.5 per cent. The triple lock, the Paris-based OECD warns, is “unusually [...]
OECD sounds alarm on pension triple lock in challenge to Burnham Economics The world’s leading independent economic organisation has warned that reform of the triple lock on state pensions is “necessary to reduce fiscal risks”, in a challenge to Andy Burnham as he prepares to take over as Prime Minister. The OECD, the Organisation for Economic Co-operation and Development, described the triple lock guarantee as “unusually generous [...]
Revealed: Secret Treasury plan to tax State Pension before it is paid out Politics The Treasury is drawing up plans to automatically withhold income tax from the State Pension before it is paid out to recipients, Morning Wire can reveal, in a move which flies in the face of previous assurances by Chancellor Rachel Reeves that she would not “go after” elderly Brits with fresh tax demands. The proposal, [...]
‘It’s important we increase spending’: Treasury minister defends triple lock pension May 27, 2026 A Treasury minister has defended the triple lock pension as a sustainable policy despite former Prime Minister Sir Tony Blair attacking the benefit for being unaffordable. Dan Tomlinson said it was “important we have the triple lock and that we increase spending on pensioners”, doubling down on the controversial manifesto commitment that has been criticised [...]
Retiring abroad could lose Brits over £70,000 with state pension at risk April 13, 2026 British pensioners eyeing a retirement in the sun could see thousands wiped off their state pension, top financial planners have warned. Brits planning to retire overseas during this tax year could forgo more than £77,000 in state pension income over the next 20 years, if they opt to move to a country where payments are [...]
Up to £115bn government spending cuts ‘staring us in the face’ October 22, 2025 Around £115bn in cuts to government spending each year are “staring us in the face”, according to a new report, as Chancellor Rachel Reeves faces increasing pressure to regain control of the public finances. In a paper published by the think tank Policy Exchange, the Chancellor has been warned to prevent a “twin-pronged fiscal crisis” [...]
State pension set to rise by more than expected in blow to Reeves October 14, 2025 The state pension is set to rise by more than previously expected after the Office for National Statistics (ONS) revised up its figures on wage growth for July, piling extra costs on public finances for Chancellor Rachel Reeves at this year’s Budget. The ONS revised up its wage growth figure for July from 4.7 per [...]
Interest rates likely to remain higher for longer August 8, 2025 Markets are indicating interest rates are set to stay higher for longer than expected after the Bank of England’s “hawkish cut” and gloomy inflation and growth forecasts shocked City analysts. Prior to the Bank’s interest rate cuts, markets had all but priced in a further 25 basis point cut by the end of the year, [...]
State pension could face insolvency by 2036 despite tax hikes July 6, 2025 Britain’s state pension could become financially unsustainable as early as 2036, despite recent increases in National Insurance contributions, according to new modelling by the Adam Smith Institute (ASI). The think tank warned the Treasury is on course to spend more on welfare payouts than it receives in National Insurance receipts within just over a decade. [...]
Labour urged to scrap state pension triple lock July 2, 2025 The government should scrap the £145bn triple lock on the state pension and employers should automatically contribute to private pensions, the Institute for Fiscal Studies (IFS) has said. Labour’s election manifesto last year said it would commit to keeping the state pension, while the Conservative Party pitched a ‘triple lock plus’ pension that would increase [...]