Personal finance - Voting to protect our pensions
Sir, – UK Chancellor Philip Hammond, in his Autumn Statement last November, made it clear that further cuts in spending would include scrapping the triple-lock on state pensions after 2020. This is the mechanism by which, for a number of years, state pensions have been increased each year by whichever is the highest of – average earnings, inflation as measured by the consumer prices index or 2.5 per cent. Labour MP Frank Field, chairman of the House of Commons Work and Pensions Committee, has also said recently that, “it is time for the triple-lock to be shelved”.
Thus both the Tories and Labour at Westminster are committed to scrapping this protection for the future value of state pensions.
In contrast, the SNP Scottish Government has pledged that, after independence, it will maintain the triple-lock indefinitely.
If pensioners wish to see the value of their pensions protected in future, they should seriously consider voting Yes in the next referendum to ensure that Scotland becomes an independent nation again.
Anyone wishing to be kept informed about pensions’ issues and the case for independence is invited to register his or her interest by emailing firstname.lastname@example.org. – Yours, etc.,
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