Peers call for removal of triple lock on UK state pension

first_imgThe select committee’s report today said that as pensioners’ incomes had been brought back in line with those of working people, according to an inquiry by the House of Commons Work and Pensions Committee, it was no longer needed.“The triple lock for the state pension should be removed,” the report said. “The state pension should be uprated in line with average earnings to ensure parity with working people. However, there should be protection against any unusually high periods of inflation in the future.”The move follows similar calls made by the OECD in October 2017. At the time, the institution said: “Indexing the state pension solely to average earnings would be fairer, while it would still allow pensioners to benefit from improvements in living standards.”‘Important first step’John Taylor, president-elect at the Institute and Faculty of Actuaries (IFoA), said the institution supported the peers’ recommendation.“The introduction of the new state pension in 2016 restored the level of the state pension in relation to wages and means that the triple lock should no longer be necessary,” he said.The peers’ report said that maintaining the triple lock indefinitely would be unsustainable, something echoed by Frank Field, an MP who represented Labour at the 2017 election but is now independent. Field, chair of the Work and Pensions Committee in the lower house of parliament, told the Lords that he still supported this notion, but was quoted as being “worried about its political ramifications”.Taylor at the IFoA said: “It should now be a priority to ensure the state pension remains sustainable and affordable over the long term. Removing the triple lock would be an important first step in ensuring the sustainability of the state pension for future generations.”The peers’ report called on the Treasury to generate and publish data on intergenerational fairness. It also recommended the government create intergenerational impact assessments for all draft legislation indicating how it will affect different generations. A committee of peers in the House of Lords has called for the removal of the triple lock on the UK state pension, saying keeping it active indefinitely was unsustainable.In a report published today, entitled Tackling Intergenerational Unfairness, the Select Committee on Intergenerational Fairness and Provision called for the measure to be withdrawn.The triple lock was a mechanism introduced by the UK’s coalition government of 2010-15. Its application means the state pension must be raised annually according to whichever was highest of wages, inflation or 2.5%.Each of the main political parties pledged to maintain the triple lock before the snap election of 2017, although the ruling Conservative party proposed to scrap the 2.5% lower limit after 2020. However, following its poorer-than-expected showing at the polls, the party was forced to abandon this idea in order to secure parliamentary support from Northern Ireland’s DUP.last_img read more

Syracuse women’s rowing wins Orange Cup for 6th time in 30 years

first_img Comments Facebook Twitter Google+ The Syracuse women’s rowing team honored the 30th anniversary of the Orange Cup Saturday by defeating the varsity eight crews from the Pennsylvania and Northeastern.It was the sixth time in school history that the SU women brought home the Orange Cup.Overall, it was a successful outing for the Orange, which finished in first place in four of the six races, including an impressive 18-second blowout of the Huskies in the varsity eight, which came in second. The Quakers were a distant 34.9 seconds behind Syracuse.‘Well, we had a really good start,’ senior stroke of the varsity eight Liz Henwood said. ‘We started out a seat ahead of Northeastern and Penn, and Northeastern actually took a seat on us, and we were like ‘No, that’s not going to happen.’‘Through the first 500 meters, we were actually just walking through them the whole time,’ Henwood added. ‘It was kind of gradual. Throughout the whole race, we never lost contact from them. They were always right there, but they never took seats us. We did a really good job. They never walked up on us.’AdvertisementThis is placeholder textThis weekend’s scene at the James A. Ten Eyck Boathouse was much different from last week, when Yale swept Syracuse and Cornell in all five events it participated in. During Saturday’s races, Syracuse, Northeastern and Penn each won one of the first three races.The early balance between the three crews was not unexpected, but rather highly anticipated by Orange head coach Kris Sanford, who said all three crews were ‘very comparable.’After the Orange jumpstarted Saturday’s events by winning the varsity eight, and thus the Orange Cup, Penn won the second varsity eight race that directly followed. The Quakers led wire to wire, and held off a very late push by the Huskies to secure a victory.Northeastern carried the momentum of a near comeback on Penn into the varsity four race, which it won with a time of 8:29.0. It was a race of role reversing from the second varsity eight. In this installment, the Huskies held off a late push from Penn to win by less than than two seconds.SU got back to its winning ways in the novice eight race by blowing away the other two crews. The Huskies finished second, 18 seconds behind the Orange.The Orange finished strong by also capturing victories in the second varsity four race and the novice four race. Northeastern did not compete in either event, and the Quakers failed to come away with a victory despite having two crews in the novice four.‘Winning the Orange Cup for only the sixth time in 30 years, so we are very excited for that,’ Sanford said. ‘This was a big stepping stone for us. This was a really big confidence weekend for us. We have been gaining speed all year. The more we win, the easier it gets.’Sanford especially liked how her varsity eight crew performed and was able to bring the Orange Cup back to Syracuse.‘I liked how they stayed consistent to the race plan,’ she said. ‘They really stuck to it. It was a dog fight of a race. We were running very close with the other crews, and when we needed to make a move, we did. That is what I like to see as a coach.’It also appeared that with their family in attendance, the Todd sisters, senior Kate and freshman Allison, were going to determined to make their parents proud. Kate coxed the varsity eight crew that brought the Orange Cup back to the hill, while her little sister led the novice eight crew that won by almost 20 seconds.‘The Todds are just so passionate; the whole family, all of them, are very passionate,’ Sanford said. ‘(Kate and Allison) pour in 100 percent all the time, and bring their Buffalo gruffness to the team, and everyone responds very well to it.’[email protected]center_img Published on April 12, 2009 at 12:00 pmlast_img read more

Byron Scott maintains Kobe Bryant will play in LA Lakers season opener

first_imgBut Scott has become conservative with Bryant’s workload partly because he played a combined 41 games in the last two years amid season-ending injuries to his left knee and right shoulder. Scott also has stayed cautious because the exhibition season bodes more significance on ironing out rotations than maximizing results. So will Scott become just as careful once the 2015-16 season starts because of Bryant’s recent injuries?“That’s a different model. When you start the regular season, I don’t know too many teams where guys are all healthy,” Scott said. “You’re going to have your bumps and bruises. It’s a matter of ‘Are you hurt or are you injured?’ We know he’s been able to play through things that most guys can’t play through. When the season started, it’ll be totally different than it would be in the preseason.”Yet, that could become a tricky balance.Bryant has a proven track record in playing through countless knee, ankle and wrist injuries through 19 NBA seasons. But Bryant has played 55,415 career minutes in 1,500 games, numbers that could exacerbate the seriousness of any minor injury. “Conversations will always be the determination. We have a great rapport,” said Scott, who mentored Bryant his rookie season. “He’s very honest with me when his body is not feeling good and he’s very honest with me when it is. I base it on those feelings.”But the Lakers argue they could indirectly benefit from Bryant’s absence when the results still do not matter. They hope to ensure the team’s success does not hinge on Bryant’s health or effectiveness.“We’re getting better even if Kobe’s not on the court,” Lakers forward Julius Randle said. “We’re all young and just trying to learn the game of basketball and get better and build. When Kobe is on the court, he’ll add that extra dimension we don’t have, obviously. But with or without him, we’re going to get better. We know what to expect when he comes back.” EL Segundo >> For once, Lakers coach Byron Scott offered some doubt on Kobe Bryant. It all had to do with whether Bryant will play in the Lakers’ preseason finale against the Golden State Warriors on Thursday at Anaheim.“Ninety-percent chance he will not play tomorrow,” Scott said. “There is a 10-percent chance he can convince me otherwise.”Bryant has missed the Lakers’ last two preseason games and six practices in the past week after bruising his lower left leg last Tuesday against Sacramento in Las Vegas. Although Scott dismissed the significance of Bryant’s injury, the Lakers’ star has not completed any running exercises yet, either. But Scott remained adamant that Bryant “will be ready” for the Lakers’ season opener against Minnesota on Oct. 28 at Staples Center.“I’m not in a hurry,” Scott said after practice Wednesday at the Lakers’ facility in El Segundo. “I don’t want him to lose his conditioning and I know he doesn’t want to lose it. But I’m still not in a real hurry. I’m not concerned.” Newsroom GuidelinesNews TipsContact UsReport an Errorcenter_img Apparently, neither are Bryant’s teammates. Lakers forward Metta World Peace deflected the speculation about Bryant’s health with a dose of humor. “He’s not out,” World Peace said. “LeBron James is out. (Stephen) Curry didn’t start. (Michael) Jordan retired. But he said he might want to come back.”How many points would the 52-year-old Jordan score if the Charlotte Hornets owner made his third NBA comeback?“It depends how big his belly is,” World Peace said. “If he has a flat belly, I say 20 (points per game). If he has a big belly, I don’t know, sixth man.” Bryant has averaged 13 points on 45.45-percent shooting and 1.4 assists in 18.1 minutes. But the Lakers have much higher expectations for Bryant, who is entering his 20th and perhaps final NBA season. He also will adorn the cover of the Lakers 2015-16 media guide with various images of his career, wearing both the Nos. 8 and 24 in a purple and gold uniform. last_img read more