WASPI campaign breaks silence over new 'triple lock plus' policy

A WASPI campaign boss has issued a verdict on the triple lock plus policy. The leader of the Department for Work and Pensions ( DWP ) WASPI campaign has slammed the Conservative Party policy suggestion to increase the personal allowance for pensioners.

Angela Madden, chair of WASPI (Women Against State Pension Inequality), told the Daily Express: "I think that’s just a bit of a ploy really to get older people’s votes cheaply. He knows there are 8 million older people and that will mean something but not very much.

"The very poorest people won’t really benefit from that at all because if you’re only on the state pension and nothing else, then you won’t reach the threshold anyway." She said: "Very few women are on the full state pension, because of their interrupted work history, with being the child bearers and the child carers.

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"You have to have 35 years’ full National Insurance. Very few women in their late 60s or early 70s have that, so we don’t see that as making a material difference, although it’s a good sound bite for Sunak."

Sunak’s new “triple lock plus” for state pensions would spare 750,000 retirees from being taxed in the next five years, the Institute for Fiscal Studies (IFS) has said. Current forecasts suggest pension payments, which are currently £11,500 a year, will otherwise exceed the £12,570 threshold at which income tax is paid by 2027.

Mr Sunak wants to raise this threshold for pensioners every year, while it would remain frozen for other taxpayers until at least 2028. This would turn the triple lock – which uprates state pensions in line with the highest between wage growth, inflation and a baseline 2.5pc – into a so-called triple lock plus.

The policy was fleshed out on Monday ahead of the General Election on July 4.