Wealthy over 65s should be STRIPPED of STATE PENSION to ‘fund benefits boost for poor’ : Express.

THE UK state pension should be means tested and wealthy retirees should LOSE their entitlement to it completely, a top economic body has demanded.

The Organisation for Economic Cooperation and Development believes “rich” Britons – millions of whom have paid into the system through National Insurance contributions for decades – should lose their pension entitlement entirely.

It said stopping state pensions for Britain’s richest 10 per cent of retirees would “free up resources” to pay more money, either to poorer pensioners or people on other benefits.

Mark Pearson from the OECD, said the UK, like many other countries, is under pressure from an ageing society: “Faced with these pressures, are you going to ask people of working age to pay more, or people to work longer before they can claim their pension?

“Another way to ensure an adequate pension is to think about whether the pension should only be paid to those who really need it, to ease the tyranny of the maths.

“Giving less [pension] to the people at the top would free up resources to increase general benefits.”

Theresa May is facing a major public backlash if she doesn't fix the pensions issue GETTY

Theresa May is facing a major public backlash if she doesn’t fix the pensions issue

Wealthy pensioners do not need the state pension – particularly those with defined benefit schemes

Michael Johnson, research fellow at the Centre for Policy Studies

Mr Pearson also said the controversial pension triple lock SHOULD be scrapped, as it put one group in society – pensioners – ahead of everyone else.

Michael Johnson, a research fellow at the Centre for Policy Studies, agreed that the state pension should become means tested.

He said: “Sooner or later we are going to have to confront the state pension, and ask ourselves what is it for?

“Is it a benefit paid to those in need, or is it a contractual obligation of the state, established through National Insurance Contributions?  The Treasury’s view is that it is a benefit.

“Essentially, the most wealthy in society should not receive any state pension at all.

“They do not need it – particularly those with defined benefit pensions, which the next generation will not enjoy.”

Read More : Express.

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5 Comments

  1. The Tories have hammered home to pensioners, that this is a benefit, not a right, in spite of the protests of pensioners.

    However, if they deny wealthy people the right to claim it (even the Queen collects her pension and winter fuel allowance), then I would imagine this would give them carte blance to impose conditions, ie: voluntary work etc, in order to receive them.

    Liked by 1 person

  2. If the poor can be striped of benefits, Bedroom tax, Benefit cap, Child tax credits cut’s. Etc etc etc, Benefits that are means tested for those in dire need. Then I see no problem with this. It is after all a benefit. Just as is entilement to is. Means tested for those who can manage with out.

    Pensioners who retire and that are in a wealthy world of cash. Then yes. It’s a bit short of time that they. The Wealthy took some AUSTERITY MEASURES.

    Like

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