We call on the Government to launch a review on the “triple lock” pension policy. We believe it could put a strain on the public finances, leading to increases in the pension age for future generations, and lead to increases in tax as the working population decreases as a share of the population.
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We want a review to consider a more sustainable solution.
As we have seen, the state pension is increasing as a share of the total country’s expenditure. We believe finding a more balanced solution, such as pinning the state pension increase to the increase in government income, could help put young people at ease, knowing that this Could stop the exponential increase of the state pension, leading to no more increases in the state pension age and stopping tax and NIC increases on the future generations.