The Department for Work and Pensions has guaranteed every state pensioner up to £2,100 by reaffirming its commitment to the Triple Lock. The pledge follows former Labour Party leader Tony Blair's call for the policy to be scrapped.
A DWP spokesperson stated: 'Supporting pensioners is a priority and our commitment to the Triple Lock for the rest of this Parliament means millions of pensioners will see their yearly State Pension rise by up to £2,100.' The spokesperson added that the Pensions Commission is examining ways to ensure secure retirements for future pensioners, while options such as universal credit and other means-tested benefits are available for those needing extra support.
Blair, speaking on the BBC's Today programme, argued that the rising number of people on disability benefits is unsustainable and must be cut as a priority. He also claimed the Triple Lock, which increases state pension payments in line with inflation, average earnings growth, or 2.5 per cent, is no longer affordable. 'We are about to end up in a situation where... we had 2.8 million working age people on disability and incapacity benefits. We are going to have by the end of this decade almost 5 million people. You can’t carry on with a situation where you are going to end up spending more on incapacity and disability benefits than you are on defence,' he said.
Turning to pensions, Blair added: 'It’s like the triple lock on pensions, you look at the figures and you look at where Britain is going to be in 20 or 30 years time if it continues with this policy, it is not affordable. At some point you have got to be able to stand up and have an honest debate with the public which is to say, look ultimately we are probably taxing people too much, spending too much, borrowing too much at the moment. If we carry on like this, we're going to create a situation where economically we're not able to grow because we have put such a weight affecting growth on the back of our economy.'
