Pensioners need proper financial support or health and social services could become overburdened, pensions experts have warned
The rising costs of the state pension could force ministers to make significant changes to other pension policies, warnings state. With the triple lock providing a substantial 8.5 per cent increase to payments following a record 10.1 per cent boost last year, the cost of the state pension continues to rise. Policy planners can look to change the policy itself to make it less generous, such as by tweaking the triple lock or increasing the state pension age.
We encourage the government to undertake a comprehensive independent review of retirement planning to establish clear principles for a fair and sustainable long-term plan for both state and private pensions, enabling everyone to plan for their future with confidence.
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