Sunak should 'step away' from pension triple lock says Gauke

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Former Work and Pensions Secretary David Gauke has told the BBC that Chancellor Rishi Sunak should “step away” from the triple lock on state pensions. Under the current system, the value of UK pensions is predicted to rise by as much as eight percent with the sum calculated by the highest of average wages, inflation, or 2.5 percent. Mr Gauke’s argument for the pension mechanism to be done away with sparked an angry backlash from BBC viewers.

Mr Gauke said: “I think the Government should step away from the triple lock in these circumstances.

“At least in the way it is generally being calculated.

“I don’t think it is justifiable to have an eight percent increase or something approaching an eight percent increase in the state pension.

“Given all the other priorities in the public finances.”

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He added: “This is the consequence of a statistical quirk that is not really what the triple lock was designed to do.

“That was to make sure that pensioners got a reasonable increase every year, didn’t fall behind on any particular measure.

“So my own view is I didn’t stand as a Conservative at the last General Election, I am not bound by that manifesto.

“But I don’t think the Conservative Party…Government could be criticized for wanting to take a different approach to the way the state pension is increased this year.”

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The former work and pensions secretary’s intervention was not welcome by some BBC viewers who took to social media to vent their anger.

One person penned: “No David, the point of the Triple Lock wasn’t to prevent pensioners from falling behind further, it was to increase state pensions more rapidly.

“Of course this is money they have paid in over their lifetimes David,” wrote another.

“So what you are saying is that you are going to reduce the amount of their money they will get back.”

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Elsewhere another user said: “No surprise there, an  ex pensions minister whose party have raised the age of entitlement, stopped full entitlement for millions who were contracted out, and raised the age for women by six years.”

“Spoken by a man who will never need a state pension. We have the lowest rates of pension compared to wages in northern Europe already,” added another.

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