Currently pensioners in the UK "enjoy" a triple safety lock on their pensions thanks to the Tory Liberal Democrat coalition government.
Now one Baroness Altmann wants that scrapped as Sunday she says she previously urged former PM David Cameron to look at the triple-lock protection.
Baroness Rosalind Miriam Altmann, CBE, joined the House of Lords May 19, 2015, where she is guaranteed at least £300 a day simply for showing up briefly.
That is much more than the weekly state pension in the UK.
According to the Independent "The triple-lock protection for state pensions should be abolished in order to save billions, the former minister responsible for the benefits has urged. Baroness Altmann, who left her post as pensions minister in Theresa May’s reshuffle, warned the cost of keeping the safeguard in place would be "enormous" after 2020."
The Tory government pledge under David Cameron was to maintain the triple lock until at least 2020.
On Sunday morning TV Altmann tried to spin her words as somehow a positive for pensioners in the UK. But her words ended up a mixture of spin, lies and drivel.
If it is all about saving money the only possible outcome for pensioners has to be negative.
Lucky Altmann born 1956 is not in the position of WASPI women in the UK; women who paid into the pensions system only to be told at the 11th hour they would have to work longer for a pension and in some case be excluded from the new flat rate pension.
Divisive and discriminatory Tory Britain 2016 even has a two-tier pension system.
"The full new State Pension is £155.65 per week. Your National Insurance record is used to calculate your new State Pension. You'll usually need 10 qualifying years to get any new State Pension. The amount you get can be higher or lower depending on your National Insurance record."
But that new pension is not available for existing pensioners.
The rest of us, existing pensioners, receive the old rate which is a maximum of £119.30 per week plus any additional pension earned.
But for the record the so-called triple lock pensions promise has not improved the value of a pension.
But it has stopped them being slashed by the Tory austerity axe.
Pensioners on average receive £600 a month more or less; many receive much less and some rely on top-ups such as pension credits to make ends meet.
Altmann's plans would hit poorer pensioners hardest and possibly end pension credit top-ups.
But bear in mind average pensioners receive no top-ups. They simply receive the pension they paid into year after year as they worked the best years of their lives.
The Tories may want to re brand pensions as welfare but they are not. They are paid for social security.
But they realise older citizens tend to vote and often vote Tory
Altmann was at pains Sunday to claim she still wanted to protect pensions but by a different method.
But again we say if it is about saving money that cannot be true.
Altmann has been involved in some worthwhile campaigns but wikipedia describes her business career as follows "A senior investment management role at Chase Manhattan, running the Bank's international equity department in London, was followed by directorships at Rothschild International Asset Management and NatWest. Her work included advising on strategy for UK pension funds and funds established under the US ERISA rules, and advice to central banks. A full-time job gave her insufficient time with her young family, so in 1993 she became an independent investment consultant with clients including 3i group, BT, HM Treasury, Standard Life, the BBC, Sky and Channel 4."
Yes she will easily be able to relate to an average pensioner in the UK; we think not.
Those in the Labour Party looking for real political change with Jeremy Corbyn note "In July 2004 Altmann was appointed by the Labour Lord Chancellor, Lord Falconer, to the Strategic Investment Board for a three-year term. The announcement cited Altmann's work on the Myners Report and her then current position as non-executive policy adviser to the Policy Unit at 10 Downing Street on investment, pensions, savings and annuity policies."
So-called Charlie Falconer is a member of the Progress wing of the Labour Party and a Blairite. "Charles Falconer, the shadow justice secretary and former close associate of Tony Blair, was an incongruous fit with Corbyn. In September he upset Corbyn supporters by disagreeing with the Labour leader’s plan to strip the Bank of England of its independence. In January he publicly disagreed with the decision to sack the Europe minister, Pat McFadden."
There goes that tangled web again.
The one which means at times it is difficult to spot where the Tory Party ends and the Labour Party begins.
Baroness Altmann:Parliamentary House of Lords, London, SW1A 0PW
Tel: 020 7219 5353
Department for Work and Pensions, Caxton House, 4th Floor, 6-12 Tothill Street, London, SW1H 9NA
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