The Independent reports this morning that the Conservatives are considering a delay to the cross-party commitment to restore the link between the basic state pension and the rise in average earnings.
The restoration of the link is scheduled to start in 2012 but could be delayed until 2015. The Independent suggests that the Conservatives, unlike Labour, will delay the change and will save £600m for every year of delay.
The full state pension is currently £95.25 a week for a single person and £152.30 a week for a couple. Nick Clegg famously said it was £30 in an interview with ITN.
- Saving id: Delaying restoration of link between the state pension and average earnings
- Area: DWP
- Total saving: £600 million per annum
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Previous idea for saving: (14) Stopping government lobbying government
