Pension: Bernard Jenkin says 8% increase ‘can’t be justified’
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Conservative MP Bernard Jenkin was asked to debate the merits of the Government’s triple lock pledge on pensions during BBC Politics Live with Jo Corburn. The Tory MP is firmly against a boost in the state pension of up to eight percent in the event of the UK economy surging back following the pandemic. He argued that the continued maintenance of the triple lock, which sees increases calculated by the highest of average wages, inflation, or 2.5 percent, was unjustifiable in the current economic climate.
Mr Jenkin told BBC Politics Live on Thursday an eight percent increase on pensions “can’t be justified.”
He told the programme: “We have got the triple lock on pensions but we have a very odd artificial situation right now.
“We are probably going to have seven or eight percent growth in the economy this year.
“So that would mean that the pensioners get seven or eight percent increase.
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“They won’t be paying any of the national insurance contributions.
Corburn asked: “Is that justifiable?”
“I think that is a case where the promise was made on certain parameters, the parameters are now so completely different,” replied the Conservative MP
“I don’t think even the Labour Party is going to campaign to the ends of the earth to give the pensioners an eight percent pension increase.”
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“Because it can’t be justified.
“That could be another promise that technically we break but in its spirit, we will honour.
“Because of course, the pensioners will continue getting above-inflation increase.”
Earlier this month a former Government Minister warned that the triple lock on state pensions is “essential” for women amid fears the mechanism could be axed.
Former Pensions Minister, Steve Web told GB News: “There is a group of people and let’s call them women for short.
“On average, it is women or are more likely to be wholly or largely dependent on the state pension.
“So in a way whatever [Rishi Sunak] does this year something like the triple lock that goes on restoring the state pension remains in my view essential.
“Because even after a decade of the triple lock we still have one of the lowest pensions given what people in work get in developed nations in the west.”
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