Not all of them wine worse off than those on the NSP. Many will have SERPS, and inherited pensions that those on NSPs don’t get, many will have paid lower contributions (eg married women’s stamp) and they retired at 60. By no means everyone retiring at 66/67/68 will get the full amount, either.
There is pension credit for people in both groups if they haven’t made full contributions, and that is the same amount - it will actually bring them to a higher income than those with a small amount over the state pension. The constant refrain of how everyone on the OSP is so much worse off is just not true.
I haven’t seen the detail of a different triple lock deal, so can’t comment on that, but pensions are contributory benefits, which are linked to contributions made. To make ‘equalisation’ fair those on OSP would have to repay 6 or more years, as well as the difference between married women’s contributions and full ones, and those with SERPS and inherited pensions would have to give them up. Or those on NSP would have to be given 6 or more years of pension, the chance to pay for earnings-related pensions, and widows’ pensions where applicable.
Would that be popular, do you think?
