The Isle of Man is considering scrapping the state pension triple lock, potentially affecting 20,000 pensioners.
This British Crown Dependency’s decision comes as its state pension fund is projected to run out by 2047 due to higher life expectancy.
But the debate extends further than the Isle of Man, Angela Madden, chair of WASPI, has argued that the triple lock is essential, stating: “The state pension in the UK is amongst the worst in Europe. We have a lot of pensioner poverty.”
However Ben Cope of the Young Voices UK has argued that the younger generation should not be paying for the elderly.
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