Basingstoke residents have given a mixed reaction to proposed pension reforms, with some hoping the changes could improve social care.
Prime Minister Andy Burnham announced plans to change the state pension triple lock from April 2030, with savings from the reforms intended to help fund a new National Care Service, at the annual Labour Party conference on September 29.
Currently, the state pension rises each year by whichever is highest of inflation, average earnings growth or 2.5 per cent.
The current system will remain in place until April 2030.
After that, the state pension will rise by whichever is higher of inflation or 2.5 per cent, and could rise further when needed to maintain its value relative to average earnings over time.
Basingstoke residents have given mixed views on the proposed changes, with some saying they could support the plans if they lead to improvements in social care.
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Tony Stanford, 77, a retired senior bank manager, said the reforms could prove worthwhile if the savings are spent as promised.
He said: “If the money is really used to improve social care then it's worth it.”
He highlighted that pensioners would be major beneficiaries of the proposed national care service if resources were properly allocated.
Ann Clough, 59, who works in security, said: “It could upset current pensioners, but it's not something that I've had to consider yet. I can see that savings need to be made somewhere, I'm unsure if it's the right place to make savings from."
Sonia Barton, 76, a pensioner from Basingstoke, was unsure of the merits or cons of the policy but appreciates “the push to make changes”, adding “I hope that he could do something for young people too".
Basingstoke’s Labour MP, Luke Murphy, has backed the plans, saying reform of the social care system was urgently needed.
He said: “Our broken social care system is one of the biggest political failures in a generation.”
“I have repeatedly heard from older people and their families in Basingstoke who are paying eye-watering sums and not receiving the care they deserve.”
“That’s why I’m glad this Labour government is offering a better deal for pensioners, protecting a State Pension that rises every year and building a National Care Service to provide older people with free personal care.”
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