John Palmer, Director of Influencing and Engagement at the older people poverty charity Independent Age, said:
“Although we welcome the Conservative Party's commitment to keeping the 'triple lock' if they win the election, we recognise that it's not a perfect long-term solution for the millions of older people facing financial insecurity right now and into the future.”
“Protecting the value of their often dangerously low income is vital, helping them cope with the elevated cost of living. In 2021/22, 13% of pensioners, rising to 20% of single pensioners, are solely reliant on only the State Pension and benefits.”
“We also await the Labour Party’s plans for pensions with interest, following Anneliese Dodds's announcement that they do not commit to the 'triple lock' but will set out a plan in their manifesto.”
“We are calling for a cross-party review to agree on the income everyone should have in later life to avoid poverty. The review could recommend the support required for older people already facing financial hardship, give long-term assurance to people planning for retirement and suggest what steps Governments across the UK should take to ensure everyone receives this support.”