Wyllow3
Andrea Leadsom, until recently a senior conservative, in 2022, said
“The triple lock on pensions could become means-tested because many richer OAPs "don't need it”….
uk.news.yahoo.com/pensions-triple-lock-could-be-means-tested-as-rich-oa-ps-dont-need-it-senior-tory-says-173546983.html
It would be very wrong to penalise people for paying into occupational pensions when they have budgeted for having the state pension too. The only fair way would be to give a minimum of 15 years' notice, which would mean being seen to be unfair to young people in comparison to the old.
Who would pay into an average occupational pension knowing that doing so would deny them the right to a state pension? Sunak talked about abolishing NI, so if anything the idea of attacking the state pension is more of a Tory idea than a Labour one.
I think it's far more likely that higher and additional rate tax relief on pension contributions will be removed, and a figure of 30% for everyone has been mooted. It's easy for me to say as it's unlikely to be applied retrospectively, but I think that is fair. Even then, it would be wrong to apply it to those approaching retirement age, which brings us back to the optics of disadvantaging younger people.