Triple lock reform raised as possible care funding option

Darren Jones has suggested reforming the state pension triple lock as one possible way to help fund a proposed social care service, but no decision has been made to change the guarantee. The discussion comes as Prime Minister Andy Burnham says he plans to put his social care proposals to voters at the next general election, while a senior minister has said Labour remains committed to the triple lock until then. Jones, a former chief secretary to the prime minister, described reform as a possible option for redirecting spending toward older people who need care. His remarks were a suggestion, not an announcement of government policy or a settled funding plan. Lord Blunkett, a former work and pensions secretary, has urged Burnham to consider ending the guarantee before an election. Blunkett said the change could raise up to £22 billion by 2030. That figure is his estimate; the reports do not specify the assumptions behind it or how pension increases would be calculated under a replacement policy. The triple lock guarantees that the state pension rises each year by whichever is highest of inflation, average earnings growth or 2.5%.