Retaining the Triple Lock on pensions

That this House urges the Government to retain the triple lock on pensions in its current form; recognises that the triple lock doesn’t apply to the old state pension system that the majority of pensioners receive; expresses concern that 1.9 million pensioners are currently living in poverty; regrets that, even with the triple lock, many pensioners cannot afford to heat their homes or pay bills without cutting back on essentials, while means-tested Pension Credit fails to reach up to 800,000 of the poorest pensioners; believes this demonstrates the benefits of universalism and the shortcomings of an expensive, bureaucratic means-tested system; rejects claims that pensioners have it too good, noting the UK provides a less generous State Pension than comparable countries despite having an older retirement age than the OECD average; opposes pitting old against young and defends the intergenerational solidarity the State Pension is founded upon; further believes that younger generations will need the State Pension even more as the strength of occupational pension provision worsens; also believes that protecting the State Pension against rising living costs is essential to ensuring future generations can retire securely, and that an expansive social care system free at the point of use is essential to older people’s welfare; further rejects funding decent social care by cutting other parts of the social safety net; and calls on the Government to fund both strong pensions and a National Care Service through progressive taxation, ensuring that after a lifetime of work people can enjoy dignity.