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Tony Blair Institute Proposes Lifespan Fund to Replace State Pension Triple Lock
The think tank says the new model would let people build up support through work, caring and education, while easing long-term pension costs.
- The Tony Blair Institute has called for the State Pension Triple Lock to be replaced by a flexible Lifespan Fund, arguing the current system is outdated and increasingly unaffordable for Britain.
- TBI reports suggest the number of State Pensioners will surge from 12.6 million to nearly 19 million by 2070, potentially increasing State Pension costs from 5% of GDP to 7.8%.
- By allowing People to build support through active contributions, the Lifespan Fund could potentially avoid £66bn a year in extra costs by 2070, according to TBI.
- Caroline Abrahams, charity director at Age UK, urged the government to retain the Triple Lock, noting that 3 in 10 State Pensioners currently struggle financially.
- Ahead of the next Election, TBI is urging cross-party talks to debate reform, though Nigel Farage of Reform has pledged to keep the Triple Lock while cutting other welfare.
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26 Articles
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Government told to scrap triple-lock and replace state pension
The plan would replace the pension with a 'lifespan fund'
·Cambridge, United Kingdom
Read Full ArticleTony Blair: break the triple lock, remake the state pension
In the autumn of 1999 Tony Blair was attending the opening of a nursery when he was confronted by an elderly woman holding a sign. The sign was an early expression of a view many people would come to hold over the following decade. It read: “Blair, you are a c***”. The reason this “typical sweet granny”, as Blair remembers her in his memoir, My Journey, was annoyed was that under his government, the state pension was due to rise by the rate of i…
·London, United Kingdom
Read Full ArticleCoverage Details
Total News Sources26
Leaning Left6Leaning Right2Center13Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 29%
C 62%
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