Andy Burnham May Scrap Triple Lock Pensions to Fund Free Social Care
Andy Burnham, the UK's Prime Minister, is considering funding his proposed free social care system by reforming the state pension triple lock. The triple lock ensures that the state pension increases annually by the highest of inflation, average earnings growth, or 2.5%. Burnham hinted at this plan during a BBC interview, stating that the reform would not happen in the current parliament to avoid breaking Labour's manifesto. He also mentioned that everyone would contribute to the funding of social care, suggesting a change in the funding mechanism. The move has sparked controversy, with some arguing it could be 'electoral suicide' due to the potential backlash from older voters.17 sourcesSee all sources