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24 November 2021

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Tories hammer nail in pensions triple lock coffin

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Eric Segal, Kent Socialist Party

The Office for National Statistics announced that inflation increased to a ten-year high of 4.2% only 36 hours after MPs voted to ditch the triple lock on pensions. Millions of older people will now be forced to choose between eating or heating. The Tories have betrayed over 2.1 million pensioners living in poverty.

With bills rising and in the teeth of a pandemic, the Tories have broken a manifesto promise and this year scrapped the triple lock, which had ensured that the state pension rose annually by either inflation, wage growth, or 2.5% - whichever was highest. The UK state pension can be as low as 137.50 a week, one of the lowest in the developed world.

Figures show that one in five pensioners in the UK are living in poverty, with 1.3 million undernourished and 25,000 dying each year due to the cold weather. Pensioners aged 85 and over have the highest rate of poverty at 22%; this has risen by 6% since 2012.

While the gradual rise in women's state pension age meant the number of female pensioners in the UK has fallen by around 800,000 since 2012-13, from 7.1 million to 6.3 million, the number living in relative poverty rocketed by about 260,000 to 1.25 million.

Working people produce the wealth in society and all we want is a decent life from cradle to grave. The bosses are only interested in their profits; they don't care about our pensions which, after all, are our deferred wages. The trade union movement must fight for an immediate 50% increase in the state retirement pension as a step towards a living pension.

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In The Socialist 24 November 2021:


News

Workers' action can defeat weak and divided Tories

Working class strangled by price rises and pay cuts

Poorer pensioners fleeced by social care cap

Tories hammer nail in pensions triple lock coffin

HS2 eastern route cancelled: Fight for a workers' plan for public transport

Cricket's history of racism and elitism


NHS

Midwives march against unsafe staffing and for adequate funding

Tories responsible for NHS staff shortages


Violence against women

End sexism and violence against women


Socialism 2021

Socialism 2021: A steely determination to change society

What did you think of Socialism 2021?


Workplace news

Support uni workers' walk-out on pay and pensions

RMT to strike in London night-tube dispute

Panasonic workers strike against pay freeze

Tesco warehouse workers ballot for strike action

Sage care home workers' pay victory


International news

Historic victory of India's farmers

Sudan: "Hamdok has sold the revolution!"

USA: Right-wing vigilante Rittenhouse acquitted - capitalist courts will not defend the working class!


Working class history

Chartism: The world's first working-class movement


Neurodiversity

The struggle for accessible workplaces and an inclusive society


Obituary

Obituary: Ted Austin (1940-2021) - working-class socialist stalwart


Campaigns

Victory! Hackney children's centres saved!

West Sussex: Payouts for council bosses, cuts for us

Newham: Durning Hall - another shameful act of Labour gentrification

Slough: Adult service cuts will leave vulnerable homeless

Northampton: Phoney consultation to mask cuts

Selling the Socialist


 

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Related links:

Pensions:

triangleSupport uni workers' walk-out on pay and pensions

triangleUniversity workers vote for action in two disputes

triangleRMT AGM: Delegates focus on the looming battles

triangleUnite young and old to defend the pensions triple lock

triangleUniversity bosses push through pension cuts proposal

Tories:

triangleTories responsible for NHS staff shortages

triangleWorkers' action can defeat weak and divided Tories

triangleCWU conference debates the union's political strategy

triangleTories under pressure in bid to remove pension triple lock

Pension:

triangleUniversity workers ballot for strike action

triangleNews in brief

triangleArcadia and Debenhams closures: Nationalise to save jobs and pensions

State:

triangleChina: Bureaucracy grapples with new crises

Poverty:

triangleThe fall of Apartheid in South Africa

Pensioners:

triangleDefend free TV licences for pensioners!

Article dated 24 November 2021

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