State Pension Changes Threaten Adequate Income for 25 Million
Tuesday, December 16, 2025
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A proposed change to the state pension system could leave up to 25 million pensioners with insufficient income, according to Sir Steve Webb, former Liberal Democrats Pensions Minister. The government faces increasing pressure to modify the Triple Lock—a policy ensuring state pensions rise annually by the highest of inflation, average earnings growth, or 2.5%. Replacing it with inflation-only (CPI) increases would significantly reduce pensioners’ income.
Describing the situation as “living in a fool’s paradise,” Sir Steve stresses the urgency of this issue.