3.5 million pensioners face poverty if triple lock scrapped - report

The research, carried out by the Pensions Policy Institute, has estimated getting rid of the triple lock could lead to nearly 3.5 million older people facing poverty in 2050, compared with an estimated 2.8 million if the policy remains in place. The report suggested scrapping the triple lock would force low-earners to put an extra £540 a year into their pension to avoid hardship in retirement. Young people would bear the brunt of the change, it added, as removing the triple lock would double the amount a low-paid young worker needed to save to avoid poverty in old age. The report a...