The state pension triple lock may have helped retired workers to regain benefits lost in the 1980s and 1990s but "the pendulum has swung far too much in their favour" at the expense of today's working population, according to Thomas Miller Investment wealth management MD Matt Phillips.
Commenting on the Intergenerational Fairness report, which was published yesterday by the Work and Pensions Select Committee (WPSC) and called for a review of the triple lock, Phillips said the policy's 2.5% guaranteed rise in value stood out the most. He added: "It means you are funding pensions going up and up in value but the working age population have to carry that burden, while also suffering themselves in the current economic climate." Aegon pensions director Steven Cameron agreed that reviewing the triple lock made sense in order to level the playing field between generations,...
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