Burnham adjusts pension triple lock from 2030 to fund care

Summarised from 12 outlets · 31 reports · Updated 2 Oct, 11:38 · Archive

Prime Minister Andy Burnham has announced plans to adjust the state pension triple lock from April 2030 to fund a new national care service.

Prime Minister Andy Burnham announced at the Labour Party conference that the state pension triple lock will be adjusted from April 2030. The current mechanism raises pensions each year by whichever is greater of inflation, average wage growth or 2.5 per cent. Under the proposed change, pensions will rise by whichever is greater of inflation or 2.5 per cent, removing the link to average wage growth.

Burnham said the change will save money to fund a new national care service. However, he conceded there may be a 'shortfall' between the savings generated and the cost of the care service. Government analysis has shown the reforms will need over 14 years before delivering savings worth more than £10 billion annually. The Daily Mail reported the savings were estimated at £15 billion per year, though this apparent discrepancy between outlets suggests different timescales or methodologies.

Burnham insisted he was honouring Labour's manifesto commitment to keep the triple lock unchanged throughout this Parliament, describing the post-2030 change as an 'adjustment' rather than a removal. The BBC's Nick Robinson challenged this characterisation, with critics accusing Burnham of 'clever politician speak'.

The announcement has drawn opposition from multiple quarters. The Conservative Party, including leader Kemi Badenoch, has criticised the plans as 'unfunded'. Nigel Farage warned Burnham to prepare for a political fight. Among the Liberal Democrats, leader Ed Davey questioned whether removing the earnings link 'would put more pensioners into poverty', while some party colleagues have criticised his response to the announcement.

How it is being reported

• Lib Dem MPs criticise Davey over pension triple lock responseSir Ed questioned the PM's plans to change the triple lock, telling the BBC removing it "would put more pensioners into poverty".BBC Politics · 1 Oct, 16:32
• Nigel Farage explodes over Andy Burnham's attack on the pension triple lockNigel Farage has warned Andy Burnham to prepare for a political fight after the Prime Minister announced plans to scrap the state pension triple lock.Daily Express · 1 Oct, 15:47
• Tories committed to pension triple lock, deputy leader saysAlex Bughart says pensioners are a 'special case' as there is nothing they can do to increase their income.BBC Politics · 1 Oct, 15:31
• Lib Dem MP clashes with own leader Ed Davey over Andy Burnham's pension triple lock planLiberal Democrat MP Tom Gordon has clashed with his own party leader in defence of Andy Burnham’s plans to overhaul the pensions triple lock to fund a National Care ServiceThe Mirror · 1 Oct, 13:45
• The hidden cost to pensioners of ditching the triple lockOver time, pensioners are likely to see their incomes grow at a slower rate under Burnham's policy than they would do under the current triple lockThe i Paper · 1 Oct, 13:25
• Blue on blue: Tory infighting erupts over triple lock pension petitionInfighting across Tory circles has broken out after the party published a petition claiming Labour had pledged to “cut” the state pension following its triple lock reforms. At this week’s party conference, Prime Minister Andy Burnham announced he would reform the triple lock pension if Labour remained in power after the next election. The state [...]City AM · 1 Oct, 13:22
• 'For The Birds': Lib Dem MP Slams Ed Davey's Defence Of Pensions Triple LockLib Dem leader Ed Davey’s authority is being challenged. A Lib Dem MP has accused party leader Ed Davey of “gaslighting” millennials over his defence of the pensions triple lock. Prime minister Andy Burnham announced on Tuesday that the policy, which determined how much the state pension rises by each year, is being “adjusted” to save money. At the moment, the pension increases by whichever is greater out of the rate of inflation, average wage growth or 2.5%. Burnham said that from 2030, the inflation and 2.5% elements will stay, but that it will only be linked to long-term wage growth.…HuffPost UK · 1 Oct, 10:47
• 'Why does it have to be OAPs versus young people?'Should the triple lock on pensions end? Entrepreneur Tim Allan and comedian James Gardner speak alongside the BBC Debate Night audience.BBC Politics · 1 Oct, 10:43
• Kemi roasts Burnham's 'Corbynism with better packaging' economic vision as PM says his plan to take money from pensions to cover care costs will make the elderly more 'financially secure'The Conservative leader laid into Mr Burnham amid a furious row over his proposal to rejig the state pension 'triple lock' to slow the rate it increases every year.Daily Mail · 1 Oct, 09:00
• Badenoch: Triple lock is ‘current’ Tory policy and in ‘draft manifesto’The Tory leader accused Andy Burnham of making ‘unfunded’ plans for a new social care service.Evening Standard · 30 Sept, 23:57
• Badenoch: Triple lock is ‘current’ Tory policy and in ‘draft manifesto’The Tory leader accused Andy Burnham of making ‘unfunded’ plans for a new social care service.Evening Standard · 30 Sept, 19:53
• Badenoch: Triple lock is ‘current’ Tory policy and in ‘draft manifesto’The Tory leader accused Andy Burnham of making ‘unfunded’ plans for a new social care service.Evening Standard · 30 Sept, 19:09
• Why Tory fear of Reform could still save the triple lockA growing number of Tory MPs are calling to kill off the triple lock – but the threat from Reform makes it electorally perilousThe i Paper · 30 Sept, 18:24
• How will the triple lock change from 2030 and what do Andy Burnham's plans mean for you?We examine what the state pension is, how it currently works and increases, what is changing and why and how the changes will affect people's finances.Daily Mail · 30 Sept, 16:39
• How will the triple lock change from 2030 and what do Andy Burnham's plans mean for you?We examine what the state pension is, how it currently works and increases, what is changing and why and how the changes will affect people's finances.This is Money · 30 Sept, 16:04
• Over-50s group Saga shrugs off triple lock changes amid booming demand for holidaysChief executive Mike Hazell said that his customers 'tend to be less reliant on the state pension', following the Prime Minister's announcement of big changes from 2030.This is Money · 30 Sept, 14:54
• Savings from triple lock pension reform to take over a decadePlanned reforms to the triple lock on pensions will need 14 years before delivering savings worth more than £10bn, new government analysis has shown, as the Prime Minister admitted there was a “shortfall” in plans to fund a new National Care Service. At his flagship Labour conference speech on Tuesday, Andy Burnham announced that he [...]City AM · 30 Sept, 14:29
• Mapped: The UK areas to be hardest hit by scrapping pensions triple lockHome secretary Shabana Mahmood’s Birmingham Ladywood constituency is among the areas where pensioners would feel the radical pledge the mostThe Independent · 30 Sept, 13:37
• I deserve the pension triple lock – Andy Burnham shouldn’t scrap itThe ‘triple lock’ gives pensioners like me vital stability.Metro · 30 Sept, 11:57
• Alex Armstrong grills Pat McFadden over Labour’s triple lock cut amid welfare spend: ‘Not answering the question!’Alex Armstrong grilled Pat McFadden over Labour’s triple-lock plans, asking why pensioners should bear the burden of funding social care. The GB News presenter pushed the Work and Pensions Secretary to explain the decision to “punish pensioners” instead of cutting the country’s bloated benefits bill. “There are many other places you could cut,” Alex began, detailing: “Pip, £41billion: foreign aid, £8.8billion.” “Why go after pensioners instead of cutting elsewhere?” TRENDING Stories Videos Your Say Mr McFadden rejected the line of questioning, insisting Labour was keeping its existing…GB News · 30 Sept, 11:11
• Burnham Accused Of 'Clever Politician Speak' For Claiming He Is Not Scrapping Triple LockAndy Burnham embraces his wife Marie France Van Heel after delivering his keynote speech at the Labour Party conference. Andy Burnham has been accused of “clever politician speak” after denying he is scrapping the state pension triple lock . The prime minister was challenged by the BBC’s Nick Robinson for insisting he was only “adjusting” the policy. At the moment, the state pensions rises each year by whichever is greater out of the rate of inflation, average wage growth or 2.5%. At the Labour Party conference in Liverpool on Tuesday, Burnham said that would change from April 2030 in order…HuffPost UK · 30 Sept, 09:43
• Big state... bigger tax! PM admits axing state pension 'triple lock' might not cover cost of his new social care scheme - and it could take many years to set upAndy Burnham conceded downgrading the 'triple lock' on state pensions - estimated to save the Government £15billion a year - might not cover the cost of his social care plan.Daily Mail · 30 Sept, 08:53
• Tories would keep the triple lock as it is, says party chairmanThe triple lock, which was introduced but the Conservative-Lib Dem coalition in 2011, ensures state pensions rise by whichever is highest out of average earnings growth, consumer price index (CPI) inflation or 2.5%.BBC Politics · 30 Sept, 08:37
• Economists warn of tax hikes after Burnham admits social care funding ‘shortfall’Andy Burnham has admitted there may be a “shortfall” in his ambitious plans to fund a new national care service, as economists warn that taxes will have to rise. Burnham announced plans to adjust the triple lock from 2030, effectively creating a double lock, using the savings to fund the new service. The new mechanism [...]City AM · 30 Sept, 07:30
• Pension triple lock: How does it work and what does Burnham plan to change?The Prime Minister has said the triple lock on the the state pension would be adjusted from April 2030 under Labour plansEvening Standard · 30 Sept, 06:30
• NIGEL FARAGE: The State pension is not a handout. To break the contract with retirees now is a betrayalThe first pockets Mr Burnham has chosen to pick are those who have worked hard their whole lives, paid their National Insurance and generally done the right thing.Daily Mail · 29 Sept, 23:00
• Triple lock raid to cost OAPs £15billion: Burnham savaged by union chief for hitting poorest to help pay for care reformsIn a dramatic move, the Prime Minister said the mechanism - which has protected pensioner incomes for years - will be ditched in 2030 to help fund social care reforms.Daily Mail · 29 Sept, 22:57
• Andy Burnham shouldn't be taking a single penny off pensioners while wasting billions of pounds a year, says Patrick ChristysAndy Burnham's triple lock announcement is already unraveling. Today during his party conference speech, he said this: "We promised in our manifesto to keep the triple lock unchanged throughout this Parliament. I will honour that promise and I will do more from there. "In April 2030, we will adjust it. The state pension will continue to rise every year, at least by prices, or 2.5 per cent, and it will hold its value relative to earnings over time, so that pensioners will always share in the rising prosperity of the nation." So he made it very clear that whatever savings this Government makes…GB News · 29 Sept, 22:32
• 'Andy Burnham's state pension triple lock plans may scare many - but there is trade-off for ageing population'Any leader serious about governing Britain faces the same uncomfortable question: as the population ages, how much more can younger workers reasonably be asked to pay to maintain promises made in a very different demographic era?The Mirror · 29 Sept, 22:26
• Could changing the pension triple lock pay for Burnham's big social care plan?Burnham said he wants to change the pensions triple lock from 2030 to pay for his social care reform, but analysts have questioned whether it will raise enough money.BBC News · 29 Sept, 20:58
• Will pensioners be poorer as a result of Burnham scrapping the triple lock?The original triple lock was designed to lift pensioners out of poverty, but OBR says it contributes to the unsustainability of public finances The prime minister has announced that the pensions triple lock will be scrapped in its current form, to partly fund a “national care service”. Continue reading...Guardian Business · 29 Sept, 18:47

In this story: Andy Burnham · Labour Party · UK · Nick Robinson · Kemi Badenoch · Ed Davey · Nigel Farage

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