‘Brilliant idea’ or ‘picking on pensioners’: YEP readers react to Andy Burnham's triple lock pension shake-up

“Robbing Peter to pay Paul” or a much-needed fix for social care?

Yorkshire Evening Post readers have given their verdict on Andy Burnham’s plans to change the pension triple lock – with opinions sharply divided.

Andy Burnham announced plans to change how pensions are increased during his speech at the Labour conference this week, with payments currently rising by the rate of inflation, earnings or 2.5 per cent – whichever is highest.

From 2030, under the plans, the automatic link with average earnings would be scrapped, with pensions to increase by either 2.5 per cent or the rate of inflation.

He said the savings would be used to fund a national care service in England so we asked Yorkshire Evening Post readers on Facebook what they thought to the proposals.

Caroline Dearden said: “Will be fine if the threshold for tax is raised (e.g. £16,000) and the social care system is overhauled. Oh yes - and tax the billionaires.”

Steve Fleming added: “Good idea if it helps us pay for a social care system.”

Meanwhile Heather Royce said: “Robbing Peter to pay Paul, again.”

Paul Griffiths agreed with the proposals and said: “Excellent. pensioners will still get an annual rise and if the savings fund improved social care, we will all benefit.”

Richard Poot claimed the idea was impressive and added: “Very clever how they have done it actually. Everyone wins. Pension all time high, money freed off for care from that point. Impressive idea.”

Debbie Rolls added: “For most older people the hope of a care system is more important than rises in pension.

“Most people’s wages are supplemented by private pensions and those that are not can apply for pension credit.

“Fears about the cost of care mean that many people try to save rather than spend all their pension. Easing worries about care would help people enjoy their pension.”

Alan Blakemore said: “It isn't being scrapped. In its current form it will continue until 2030. Then the increase and it will still be an increase is calculated differently. The minimum rise will still be 2.5 per cent as it is now.”

Meanwhile David Plumley said: “Picking on the pensioners again.”

Conservative leader Kemi Badenoch, and her Liberal Democrat counterpart Sir Ed Davey and Reform UK’s Nigel Farage have since said they disagree with the pensions proposal.

Mr Farage said scrapping the triple lock in its current guise would “abdicate (Mr Burnham’s) responsibility to British pensioners”.

Mrs Badenoch said: “It won’t generate enough savings to fund a nationalised care system for another two decades, which means more tax rises are inevitable.”

Sir Ed said scrapping the triple lock now will “push more pensioners into poverty”.