‘There’s being bold and there’s being plain bonkers’

The new Pensions Minister Torsten Bell has called Kemi Badenoch’s idea to means-test the state pension triple lock “plain bonkers”. 

During a phone-in on LBC, Kemi Badenoch was asked whether the Tories would consider means-testing the state pension triple lock, which ensures the state pension rise each April either matches inflation, average earnings, or 2.5%.

The caller said: “There are some people that get the [state pension] or get the triple lock applied to it that do not need it”.

Badenoch said “that’s the exact kind of thing […] policy work we’re going to be doing”. 

She stated “We’re going to look at means testing. Means testing is something we don’t do properly here”.

Bell, swiftly rebuked the proposal in a post on X: “There’s being bold and there’s being plain bonkers. 

“No-one who thinks for 5 minutes can believe means testing the state pension is a good idea – but that is what Kemi Badenoch says she’s up for.”

Bell pointed out that the cross-party consensus for years has been to move away from means-testing the state pension, in order to provide a clear foundation on which people can save for private pensions.

He added that means-testing the triple lock is not feasible: “The language she used refers to means testing the triple lock – but you means-test the benefit (the state pension) not the uprating mechanism (the triple lock)”. 

This week, several newspapers including The Times and Daily Express have published articles claiming that Bell wants to replace the triple lock, based on a report he wrote in 2020.

While working at the Resolution Foundation, he wrote a report which suggested linking the state pension to increases in benefits paid to jobseekers, the long-term sick and others of working age.

Under this proposal, pensions would increase in line with average earnings over the medium term, with more flexibility to protect a pension’s value during periods of weak wage growth or high inflation.

A government spokesperson clarified that Bell said this before becoming an MP, adding: “Our commitment to the Triple Lock is unwavering because we want pensioners to enjoy the dignity and respect they deserve in retirement. This means millions will see their State Pension rise by up to £1,900 over this parliament.” 

In December, Kemi Badenoch attacked Labour for means testing the yearly £200 to £300 winter fuel payments, stating it was a “cruel” policy. 

The chancellor Rachel Reeves confirmed that Labour will keep the state pension triple-lock and defended the decision to means test winter fuel payments, saying it will be targeted at those “most in need”. 

Joanna Elson, CBE, Chief Executive at Independent Age said there has been a lot of debate about the triple lock and that it’s “not a perfect long-term solution”.

“However, for the millions of older people facing financial insecurity right now, it is vital in protecting the value of their often dangerously low income.

“It also aids future generations. Changing the triple lock would increase the amount working age people need to save to avoid poverty when they enter retirement.”

Elson said people on a low-income have faced “years of uncertainty” with the continuous debate about the triple lock.

She added that the government needs to reach a cross-party consensus on the level of income needed in later life to avoid living in financial hardship.

“Once this is established, plans must be put into place to ensure every older person receives this, nobody should have to live in poverty as they age.”

Olivia Barber is a reporter at Left Foot Forward

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