Could changing the pension triple lock pay for Burnham's big social care plan?
UK Prime Minister Andy Burnham has proposed adjusting the state pension triple lock to help fund a new national care service starting in 2030. Analysts suggest the change would improve long-term fiscal sustainability but may not generate sufficient funds to cover the full costs of social care reform.
Why it matters
This represents a significant shift in UK social policy that could impact the financial security of millions of retirees while attempting to address the growing crisis in social care funding.
Image source, Getty Images By Ben Chu Policy and analysis correspondent, BBC Verify Published 31 minutes ago In his Labour conference speech, Prime Minister Andy Burnham said he would "adjust" the triple lock on the state pension to help pay for a new "national care service" in England from 2030.
While his proposed reform is likely to reduce public spending on pensions, analysts say it would be unlikely to save enough money between 2030 and 2040 to pay for comprehensive social care reform.
BBC Verify has looked at the key figures.
Since it was introduced by the coalition government in 2011, the triple lock has guaranteed that the UK state pension rises each year in line with whichever is the highest of inflation, average wages, or 2.5%.
Burnham said that from April 2030, instead, it would only rise in line with the highest of inflation or 2.5%.
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