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Time to break triple lock promises to pensioners?
IFS director Paul Johnson suggests it could be. -
‘He charts how the average income of senior citizens has risen and is now higher than that of the rest of the population. “We are in a position we never intended,” he says. “One generation has lucked out and generations coming after are not only doing much worse, but paying for the older generation.” He asks whether the government can and should sustain the “triple lock” which makes the state pension rise much faster than other benefits. And he argues that the inequality between generations is now entrenching inequality within generations.’
his quote and links to his interview on radio 4 are available from the IFS website