State Pension Triple Lock

Paulette Hamilton Excerpts

Tuesday 8th November 2022 Commons Chamber

[Mrs Paulette Hamilton (Birmingham, Erdington) (Lab)]

Everyone deserves financial security in retirement and should be able to rely on a decent state pension, but currently around one in six older people is living in poverty and over the last decade pensioner poverty has risen by almost half a million. People in Erdington, Kingstanding and Castle Vale have been contacting me, worried about the impact the cost of living crisis is having on their finances. Many older people in my community are facing tough choices between heating and eating and they simply cannot afford a real-terms cut to the already limited state pension and pension credit they receive. One of my constituents, an 87-year-old living with significant health issues, said to me:

“I am careful now about the electricity and try to use the microwave instead of the oven. I haven’t put the heating on because I am frightened of the cost.”

This is not a new issue. Pensioners across my community were struggling to make ends meet in the spring and summer, yet the Government have still failed to clarify their position. Despite winter now being just around the corner, we are now seeing a summer of Tory chaos coming home to roost. The Conservative Government made a manifesto commitment in 2019 to maintain the triple lock. This would have seen the state pension rise with inflation every year of the current Parliament, but conflicting statements from Ministers about where cuts might be made are hugely worrying for many across the country, and the prospect of another round of devastating austerity is looming large. My constituents need clarity, reassurance and stability to help them to manage through this crisis.

The Prime Minister has claimed that his Government are compassionate, but we are yet to see any compassion for the most vulnerable, older people in our society. The public deserve to know what options Ministers are considering, with reports that they may again refuse to apply the triple lock to pensions in the future years. If this does happen, it would be yet another breach of their 2019 manifesto commitments. Up to 850,000 older people in the UK do not receive the pension credit they are entitled to, and older people on low incomes are falling through the cracks.

If the Government are serious about supporting older people, they should now commit to targeted financial support for those in later life. We all have an interest in ensuring that older people in our communities live in dignity. The 13,000 pensioners in Erdington, Kingstanding and Castle Vale will be over £900 worse off if the Tories break their promise on the triple lock. Across the UK, older people are being overlooked and the Government must now step in and give them the support they need to stay warm and safe this winter.