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Failing to protect the pensions triple lock would be a \u201cterrible indictment of our country\u201d, a senior Peer has warned.<\/p>\n
Lord Foulkes\u2019 warning came as he laid down the gauntlet to all political parties to guarantee commitment ahead of next year\u2019s expected general election.<\/p>\n
Both Labour and the Conservatives are refusing to commit to including the triple lock in their manifestos.<\/p>\n
The formula faces being changed in the next few weeks to save Rishi Sunak\u2019s Government \u00a3600million.<\/p>\n
The ultimatum comes as our crusade with Silver Voices calling on ministers to honour the triple lock was backed in a petition by more than 31,000 people.<\/p>\n
Under the formula, pensions rise every year with inflation, average earnings or 2.5 per cent, whichever is highest.<\/p>\n
Rishi Sunak is now considering altering the way the link to average earnings works.<\/p>\n
To add your name to the petition, click here<\/strong><\/p>\n READ MORE: <\/strong> Moneybags Rishi hugely out of touch on pensions of normal people -Carole Malone<\/strong><\/p>\n Pensioners would be handed an 8.5 per cent increase if the calculation is carried out in the same way it always has been since the lock was introduced.<\/p>\n But the Treasury is looking at whether to strip out the impact of public sector bonuses, which would reduce next April\u2019s rise to 7.8 per cent.<\/p>\n Campaigners have this week warned against \u201cunderhand\u201d tactics to get out of meeting the full guarantee to pensioners.<\/p>\n Sir Keir Starmer dodged calls to back the pledge this week, saying only that there would be a \u201cfair and decent pension\u201d if he becomes prime minister.<\/p>\n Lord George Foulkes, Co-Chair of the All Party Parliamentary Group on Ageing and Older People, said it was vital that the triple lock is protected.<\/p>\n Writing in the Daily Express he warns: \u201cIt would be a terrible indictment of our country, one of the richest in the world, if we made the poorest in our society the victims of the current economic crisis by abandoning the triple lock.<\/p>\n \u201cWe must fight to ensure all parties in the country keep this commitment in the run up to the General Election.\u201d<\/p>\n Silver Voices director Dennis Reed said: \u201cThe massive surge in support for the Express\/Silver Voices petition to save the Triple Lock is extremely gratifying but our campaign is only just starting.<\/p>\n \u201cToday, we have urged our 6,000-plus members, if they have Conservative MP, to write to them expressing their disgust that the Government is thinking of breaking its manifesto promise by tampering with the Triple Lock formula.<\/p>\n \u201cMillions rely on the basic state pension as their main source of income and to suggest that this tried and trusted formula should be scrapped in the middle of a cost-of-living crisis is cruel, unnecessary and will not be forgiven.Take heed Mr Sunak and confirm the full Triple Lock increase for 2024.\u201d<\/p>\n Don’t miss… <\/strong> Case study<\/strong><\/p>\n The former British Rail worker has health problems which require the help of four carers a day.<\/p>\n Crucially, the increase to his state pension over the last three years has allowed him to pay someone for an extra few hours of supplementary personal care and to do the domestic chores.<\/p>\n \u201cIt\u2019s tight, but I can manage to pay for the help, obviously though that bill goes up each year as the person I pay needs a rise to keep up with inflation too,\u201d said Mr Smith, a widower, who lives on his own in sheltered accommodation near Luton in Bedfordshire.<\/p>\n \u201cThis coming rise of 8.5 per cent – if the Government sticks to its promise and awards it – is based on the rise in earnings. My carers deserve their pay rise.\u201d<\/p>\n Mr Smith has a small private pension which pushed him just over the threshold to qualify for Pension Credit, but he is by no means well off.<\/p>\n The father of two said: \u201cOnce I\u2019ve paid for all my care costs and the bills, I\u2019m left with just a few pounds each month.<\/p>\n \u201cI fully support the Daily Express campaign to keep the triple lock, it\u2019s marvellous of the newspaper to draw attention to the plight of the country\u2019s pensioners.<\/p>\n \u201cEveryone seems to think pensioners are well off and going on cruises all the time, but that\u2019s just not the case. More old people are struggling to keep the wolf from the door.<\/p>\n \u201cAlso there seems to be an effort to divide the generations and pit young against old, but I don\u2019t know a single son or daughter or grandchild who would want to see their elderly family members going cold because they can\u2019t afford to heat their homes.\u201d<\/p>\n We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info<\/p>\n
\u2018Sting in tail\u2019 as state pension triple lock drives millions into tax trap[COMMENT] <\/strong>
No betrayal, Mr Sunak! Join our fight to protect the pension triple lock[EXCLUSIVE] <\/strong>
State pension triple lock guide and what it means for you[GUIDE] <\/strong><\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/4962516.jpg?r=1694811804552\")
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