Tony Blair blasted for ‘betraying pensioners’ with call to scrap triple lock | Politics | News

Sir Tony Blair has been accused of “betraying pensioners” after the think tank called on the Government to remove the “triple lock” on pensions. The anti-poverty measure ensures that the state pension increases by the greater of the increase in average earnings, inflation or a 2.5% increase.

Campaigners have criticized the former Prime Minister for pushing for the practice to be scrapped when “food and energy prices are likely to spiral out of control”. The Tony Blair Institute for Global Change (TBI) argues that the triple lock should be removed as a “first step” to “prevent state pensions from rising faster than earnings growth”. He says the country should replace the state pension with a new “lifetime fund”.

This new system will allow people to assert some of their rights to receive State-backed support to retrain, change careers or take on caring roles.

The TBI predicts that Britain’s pensioner population will rise from 12.6 million today to almost 19 million by 2070, and that government pension spending will cost “an extra £85bn in today’s terms”. Sir Tony’s think tank wants the reconstituted Pensions Commission to secure a cross-party agreement before the next election so the triple lock “can be replaced by a softer link to earnings from 2030”.

Dennis Reed, of campaign group Silver Voices, called on the TBI to “keep its nose out of domestic politics” and said removing the triple lock would be “disaster for older people”.

He said: “Lifetime fund schemes are a thinly veiled cover to weaken the state pension system and eliminate the triple lock in the next Parliament.

“Millionaires like Tony Blair have no idea what it’s like to try to survive on the basic state pension of £185 a week because they spend it haphazardly on a midweek meal. “Instead, they are opting for a system that prevents more pensioners falling into extreme poverty at a time when food and energy prices are likely to spiral out of control.

“The triple lock is a fundamental safeguard to safeguard the dignity, physical and mental health of the elderly in retirement. The state pension should not be abolished until it is at a level that can meet basic human needs such as adequate food and warmth.”

Age UK charity director Caroline Abrahams said the triple lock should “remain in the next Parliament”.

He said: “Over time this policy has rebuilt the value of the state pension and helped improve the living standards of some of our poorest pensioners.

“Today, we continue to hear from older people struggling financially, and the extra money a triple lock provides makes a meaningful difference to many lives.”

But TBI’s Tom Smith said: “We cannot continue to pour money into a system that is increasingly unaffordable. Pension spending must be brought under control and that means the triple deadlock cannot continue after the next election.”

The think tank says the current “one-size-fits-all retirement age” penalizes those in poor health. Under the plans, people “will be able to choose when to convert their lifetime funds into a guaranteed lifetime annuity, with the annual amount adjusted on an actuarially fair basis to reflect age and health.”

UK Reform MP Robert Jenrick, who will serve as Nigel Farage’s chancellor if the party wins the next election, accused Sir Tony of betraying pensioners.

He said: “The recent attacks on the triple lock by Labor and Conservative leaders such as Tony Blair and Jeremy Hunt are a shameful betrayal of pensioners who have worked hard all their lives and paid into the system.

“Pensioners did not waste billions of dollars on nonsense like foreign aid and migrant hotels, and they should not be deprived of their pensions to pay for the money wasted by the two old parties.”

Former Conservative Chancellor Sir Jeremy said the Government should “absolutely” rethink the triple lock, claiming the country was “funding the triple lock by increasing our national debt”.

Former Tory security minister Tom Tugendhat, who wants defense investment to increase, has proposed changes that would save £6bn a year by the end of the decade.

Jan Shortt, general secretary of the National Pensioners’ Convention, opposed abolishing the triple lock, saying: “A lifetime fund for future pensions has its merits and it also has its pitfalls. The NPC would rather see work being done to improve the state pension rather than talk about removing the triple lock.”

“Today’s retirees are still struggling with energy and other living costs; a much improved state pension will benefit them and future retirees.”

Morgan Vine of the Independent Age said: “One in eight older people rely solely on the state pension and other financial benefits. While it’s not a perfect solution, the triple lock is vital for them for now.”

“Many people only eat once a day, reduce the frequency of bathing, and do not use lights at night.”

A Department for Work and Pensions spokesman said: “Supporting pensioners is a priority and our triple-lock commitment for the rest of this Parliament means annual state pensions for millions of retirees will increase by up to £2,100.

“The Pensions Commission is currently looking at how we can deliver secure retirements for tomorrow’s retirees, and a range of options are available for those who have not reached state pension age but need extra support, including Universal Credit and other means-tested and disability-related benefits.”