Many savers were left disappointed after the Government announced it would not allow the state pension to rise by almost nine percent this year. Average earnings saw a big spike due to the UK’s economic recovery from the pandemic, meaning the pension was set for its biggest increase in years. But this sparked concern over intergenerational fairness, as working people, who were more affected by the economic crisis, were set to foot the bill. Nevertheless, some pensioners have voiced fury directed at the Prime Minister.
Terry Wrigley from Amesbury, for example, told The Guardian last week that it’s a “bloody rip-off” that he will have to pay National Insurance contributions on top of losing out because of the triple lock suspension.
He added: “I’m working class and left school in 1967 and have paid National Insurance for over 50 years.
“I think it’s a cheek of this Government to take further contributions from me, especially when it means I won’t be getting more pension.”
However, economist with the free market Institute of Economic Affairs, Julian Jessop, tells…
