Work and Pensions Secretary Pat McFadden has warned that people in the UK could be working into their seventies unless the pension system is reformed. The government wants to change the triple lock to slow growth in pension spending, potentially saving up to £50 billion a year by mid-century. Under the proposed system, the pension will still increase every year, but the wage increases will no longer automatically lead to equal pension increases. Of course, there is no guarantee that pension increases will not slow down significantly over time. Poor pensioners already have to work just to get by, and now it seems the government is willing to keep them in the fray. And we all know where this money will really go, and who it will benefit. It certainly won't be pensioners.

Work and Pensions Secretary Pat McFadden has warned that people in the UK could be working into their seventies unless the pension system is reformed. The government wants to change the triple lock to slow growth in pension spending, potentially saving up to £50 billion a year by mid-century. Under the proposed system, the pension will still increase every year, but the wage increases will no longer automatically lead to equal pension increases. Of course, there is no guarantee that pension increases will not slow down significantly over time. Poor pensioners already have to work just to get by, and now it seems the government is willing to keep them in the fray. And we all know where this money will really go, and who it will benefit. It certainly won't be pensioners.