The UK already has the lowest state pension – as a proportion of pre-retirement wages – of all of our European neighbours. House of Commons Library research revealed that UK pensioners receive around a quarter (28%) of the average working wage when they retire. In stark contrast, pensioners in Luxembourg and Austria receive 90% of the average working wage.
By scrapping the triple lock on pensions, this UK Government has broken yet another manifesto commitment. This follows on the WASPI campaigners continuing their fighting for pension justice and also pensioners in Inverclyde fighting against the changes to TV licence fees for over 70s.
A decade of Tory austerity cuts, coupled with one of the worst state pensions in the developed world, means that millions of our older people are already living in poverty. Scrapping the triple lock is another hammer blow for Inverclyde pensioners from the UK government.