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For those looking forward to the prospect of retiring, news that a think tank has recommended some Brits should lose their state pension will not be welcome. According to a report, as many as one in four people should lose their eligibility for the Government paid benefit.
The report said the money saved from offering them a state pension could be used to help younger generations - many of whom find themselves less well off. The ASI sets out a number of major reforms it claimed would reduce inequality between the generations.According to the authors of the controversial report: "The triple lock is unfit for purpose". They said.
Under the current triple lock system, the state pension is raised each April. In 2023, the increase will be 10.1% in line with inflation, which the ASI says is unfair.
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