Sign in

Torsten Bell

@torstenbell.bsky.social
33K followers 276 following 1K posts

Member of Parliament for Swansea West

PostsRepliesMedia
Reposted by Torsten Bell
Seb Schmoller @schmoller.net · 03/10/2026
The clearest thing I've read so far on the rationale for and impact of ending the state pension triple lock, by @torstenbell.bsky.social: torstenbell.substack.com/p/the-future...
torstenbell.substack.com
The Future of the Triple Lock
The questions I’ve been asked most after Andy Burnham’s speech - and what the answers are.
22512
Torsten Bell @torstenbell.bsky.social · 03/10/2026
To provide the clarity that there will be a meaningful rise each year - this is a longstanding feature of our pensions system
150
Reposted by Torsten Bell
Roland Smith @rolandmcs.bsky.social · 03/10/2026
This is a great explanation. The proposal is to move from a Triple Lock to an Adjusted Triple Lock.
611543
Reposted by Torsten Bell
Wanderscotwild @wanderscotwild.bsky.social · 03/10/2026
This is a brilliant explanation of Labours' Plans for the UK state pension (and also explains why we ended up with an increased pension retirement age - looking at you #Tories) #TripleLock #Pension
1137
Torsten Bell @torstenbell.bsky.social · 03/10/2026
All your Triple Lock questions answered: - what is the new policy - why it’s a ‘triple lock’ - why pensioner poverty is expected to fall in the 2030s torstenbell.substack.com/p/the-future...
torstenbell.substack.com
The Future of the Triple Lock
The questions I’ve been asked most after Andy Burnham’s speech - and what the answers are.
1614260
Torsten Bell @torstenbell.bsky.social · 02/10/2026
No - that would be a terrible policy, undermining both parts of our dual pension system - directly scrapping a universal state pension and removing the incentive for people to save for their own retirement
120
Torsten Bell @torstenbell.bsky.social · 02/10/2026
This is exactly what I said was their plan earlier today - she just gets the credit for spelling it out torstenbell.substack.com/p/the-future...
03313
Torsten Bell @torstenbell.bsky.social · 02/10/2026
Katie Lam just said the secret but inevitable bit out loud - Conservatives opposing our reform of the Triple Lock are actually on track to scrap or means test the State Pension www.thetimes.com/uk/politics/...
28142
Torsten Bell @torstenbell.bsky.social · 02/10/2026
Thanks for reading - make sure you subscribe for next time. torstenbell.substack.com/subscribe
torstenbell.substack.com
Subscribe to Charting the Course
Torsten Bell helps you keep your bearings on what’s really driving the politics and economy of modern Britain. Click to read Charting the Course, by Torsten Bell, a Substack publication with thousands...
060
Torsten Bell @torstenbell.bsky.social · 02/10/2026
What has been set out this week is a new settlement for older generations, ensuring they can keep a rising State Pension and offering something new: the National Care Service we will build. It's about something far more important than good politics: it’s the right thing to do.
1143
Torsten Bell @torstenbell.bsky.social · 02/10/2026
Putting the state pension on a sustainable basis means people can have faith that it will be there for them in the decades to come. In reality, opposing our plans would be putting the actual universal State Pension itself at risk.
150
Torsten Bell @torstenbell.bsky.social · 02/10/2026
Everyone wants older generations to be supported. But everyone also knows what is the biggest betrayal of older generations: our collapsing social care system and its impact on the NHS. What they have seen this week is a PM who is as disgusted with the status quo as they are.
140
Torsten Bell @torstenbell.bsky.social · 02/10/2026
The past is all very well, but will adjusting the triple lock see pensioner poverty rise in the future? No, it's actually set to decline bc: - The state pension will still rise - More people saving privately is pushing up the incomes of poorer pensioners (often women).
140
Torsten Bell @torstenbell.bsky.social · 02/10/2026
For those saying the triple lock has driven pensioner poverty down: that's wrong, as this timeline spells out. The last Labour Gov halved pensioner poverty w Pension Credit for the poorest. Under the Tories (who introduced the triple lock in 2011) pensioner poverty rose by 350k.
140
Torsten Bell @torstenbell.bsky.social · 02/10/2026
If its so similar to the current triple lock, will it actually save money? Also yes. The state pension will still rise every year, but on a sustainable basis as we remove the ratchet effect whereby it outstrips wages. So it's rising, but at a slightly slower rate.
130
Torsten Bell @torstenbell.bsky.social · 02/10/2026
From April 2030, we will adjust the Triple Lock. The core principles will stay the same: a material rise every year, protecting against price increases, and making sure pensioners benefit from economic growth. Is it still a TRIPLE Lock? It has 3 elements, making the answer: yes.
140
Torsten Bell @torstenbell.bsky.social · 02/10/2026
We're honouring our promise, keeping the Triple Lock for the rest of this Parliament. The full new State Pension will rise by £2,000+, reaching a record high relative to earnings by 2029/30. This will see the permanent reversal of Thatcher's decoupling of the SP from wages.
130
Torsten Bell @torstenbell.bsky.social · 02/10/2026
There's only one topic to write about this week: @andyburnham.bsky.social's positive, patriotic speech. To wrap up the week, I'm sharing answers to the questions I’ve most often been asked about changes the PM announced to the Triple Lock 🧵 torstenbell.substack.com/p/the-future...
torstenbell.substack.com
The Future of the Triple Lock
The questions I’ve been asked most after Andy Burnham’s speech - and what the answers are.
2338
Torsten Bell @torstenbell.bsky.social · 30/09/2026
Best news today? The significant rise in business investment, which matters because it drives tmrw’s growth not just today’s: - business investment is estimated to have increased by 1.8% in Q2 - it is up 5.2% on the year Chart (from Reuters)👇
3499
Torsten Bell @torstenbell.bsky.social · 30/09/2026
Here’s the release: www.ons.gov.uk/economy/gros...
ons.gov.uk
GDP quarterly national accounts, UK - Office for National Statistics
Revised quarterly estimate of gross domestic product (GDP) for the UK.
1134
Torsten Bell @torstenbell.bsky.social · 30/09/2026
More evidence of UK economy’s strong first half to the year, despite the very real impact of the Iran war: - ONS have revised up growth (and gdp/capita growth) in Q2 to 0.5% - confirms the UK as the fastest growing economy in the G7 in 2026 (given growth of 0.6% in Q1)
810744
Torsten Bell @torstenbell.bsky.social · 29/09/2026
We will increase the State Pension to record highs and ensure it can sustainably rise every year in future - that is the prize of our reform for today’s and tomorrow’s pensioners: a state pension they can trust will actually be there for them.
2417
Torsten Bell @torstenbell.bsky.social · 29/09/2026
…or means-testing the State Pension. Which is what… Kemi Badenoch herself said was on the table www.bbc.co.uk/news/article...
bbc.co.uk
Kemi Badenoch triple lock comments trigger pensions row
The Tory leader said her party wanted to look at greater means-testing of government support.
2286
Torsten Bell @torstenbell.bsky.social · 29/09/2026
Why does this matter? Because making unsustainable promises on the Triple Lock lasting forever has consequences. It will mean the Conservative would (again) swiftly accelerate rises in the State Pension age - making people wait into their 70s for a pension…
1337
Torsten Bell @torstenbell.bsky.social · 29/09/2026
Jeremy Hunt has also been totally clear about the need for change - including today:
1275
Torsten Bell @torstenbell.bsky.social · 29/09/2026
And Jack Rankin was even clearer: “The triple lock situation is not sustainable” www.gbnews.com/politics/sta...
gbnews.com
Tory MP admits triple lock is 'unsustainable' before revealing pensions political headache
The triple lock increases the state pension by at least 2.5 per cent, or whatever is highest of inflation or wage growth
2247
Torsten Bell @torstenbell.bsky.social · 29/09/2026
Oh - and BOTH the senior parliamentary aides to Kemi Badenoch have called for the Triple Lock to be changed. Here’s John Glen spelling it out… www.telegraph.co.uk/politics/202...
telegraph.co.uk
12810
Torsten Bell @torstenbell.bsky.social · 29/09/2026
The now Justice Secretary wrote a manifesto that called for the state pension to be put on a sustainable footing in 2017. Never mind adjusting the triple lock he, and every Tory that stood in that election, wanted it scrapped (p64 of that manifesto for the keen)
2236
Torsten Bell @torstenbell.bsky.social · 29/09/2026
What did the new shadow foreign secretary call an unreformed triple lock? A Ponzi scheme www.independent.co.uk/news/uk/home...
independent.co.uk
Conservatives should stop defending triple lock ‘Ponzi system’, says senior Tory
Tom Tugendhat compared the UK economy to a ‘Ponzi system’ during a fringe event at the party conference in Manchester on Monday.
3357
Torsten Bell @torstenbell.bsky.social · 29/09/2026
Worse, they know they aren’t a serious party. Here’s just a few examples…
1224
Torsten Bell @torstenbell.bsky.social · 29/09/2026
The Conservative Party debated for a couple of hours and decided that no, they are not a serious party. Inevitably.
1319041
Torsten Bell @torstenbell.bsky.social · 25/09/2026
Absolutely - many such meetings
000
Torsten Bell @torstenbell.bsky.social · 25/09/2026
Admiral is an important Swansea employer that I want to support. Their site in SA1 provides around 2k jobs for our community. Employees and their families want clarity and reassurance that everyone will be treated fairly: I will be doing everything I can to help them to get both.
0120
Torsten Bell @torstenbell.bsky.social · 25/09/2026
Like many people across Swansea Bay, I’m deeply disappointed to learn that Admiral Insurance are to cut 500 jobs from its UK business. I’ve asked for an urgent meeting with the company to talk about what happens next - particularly in Swansea.
5283
Torsten Bell @torstenbell.bsky.social · 23/09/2026
Fantastic to get out with @mike-reader.bsky.social and a crack team of @labouruk.bsky.social volunteers in Holborn and St Pancras. Sagal Abdi-Wali would make a brilliant MP, and a powerful voice for the local area. Great to speak to lots of supporters on the doors.
1194
Torsten Bell @torstenbell.bsky.social · 22/09/2026
Liberal Democrat join the Reform/Tory circus in promising tax cuts they have no idea how to pay for - the coalition govt showed us how this ends: trashing both public services and the public finances
44410
Torsten Bell @torstenbell.bsky.social · 22/09/2026
People retiring in 2050 are set to be poorer than retirees today - not what progress looks like in an ageing society. It's not about blaming individuals, it's about looking at the system. That's exactly what the ind. Pensions Commission is doing, and it will report on what should be done next year.
120
Torsten Bell @torstenbell.bsky.social · 22/09/2026
Not at all. Individuals have faced very real pressure from the CoL - this isn't about blaming them, it's about looking at the system bc we can't have a situation in which pensioners in 2050 are poorer than retirees today. The ind. Pensions Commission is doing just that and will report next year.
000
Torsten Bell @torstenbell.bsky.social · 22/09/2026
The point of highlighting these two facts is about understanding the system - not blaming individuals who have faced very real pressure from the CoL. The ind. Pensions Commission is looking at what should be done, bc we can't have a situation in which pensioners in 2050 are poorer than those today.
030
Torsten Bell @torstenbell.bsky.social · 22/09/2026
This is absolutely not about blaming individuals, who have faced very real cost of living pressures. It's about looking at the system, which is what the independent Pensions Commission is now doing. Their final report on what should be done about it will be delivered early next year.
110
Torsten Bell @torstenbell.bsky.social · 22/09/2026
‪TLDR: we’re not saving enough > but it pays to save > and it’s about looking at the system not blaming individuals, something being done by the independent Pensions Commission now. ‬ ‪But I’d always recommend reading - and subscribing for next time: torstenbell.substack.com/subscribe‬
torstenbell.substack.com
4100
Torsten Bell @torstenbell.bsky.social · 22/09/2026
Retirement - a proper rest after a lifetime of work - was one of the 20th century’s great wins. The latest edition of my weekly newsletter Charting the Course gives you two big facts about the pensions system in the UK today: torstenbell.substack.com/p/two-things...
16318
Torsten Bell @torstenbell.bsky.social · 22/09/2026
Thanks for reading, and don't forget to subscribe for next time. torstenbell.substack.com/subscribe
torstenbell.substack.com
Subscribe to Charting the Course
Torsten Bell helps you keep your bearings on what’s really driving the politics and economy of modern Britain. Click to read Charting the Course, by Torsten Bell, a Substack publication with thousands...
040
Torsten Bell @torstenbell.bsky.social · 22/09/2026
This is about the system, not just individuals. The ind. Pensions Commission is now looking at the undersaving problem and will report early next year. Retirement was one of the 20th century's great wins. Keeping that promise for today's workers is the goal. It’s one we can meet
3221
Torsten Bell @torstenbell.bsky.social · 22/09/2026
Fact 2: it really pays to save. For every £1 an average earner puts into a pension, you get back £4 in retirement (£8 before inflation). £1 saved + 25p tax relief + 75p+ employer contribution = £2 in the pot. Investment growth is the magic sauce that does the rest.
1172
Torsten Bell @torstenbell.bsky.social · 22/09/2026
Why? Partly because minimum auto-enrolment rates (5% employee, 3% employer) were never designed to be enough on their own. Also bc 45% of working-age adults still aren't saving into a pension, incl the vast majority of self-employed people. More has to be done to help them save.
271
Torsten Bell @torstenbell.bsky.social · 22/09/2026
Fact 1 (part 2): ... but we're not saving enough People retiring in 2050 are currently set to have private pension incomes 8% LOWER than people retiring today. In an ageing society, that's the wrong direction of travel.
192
Torsten Bell @torstenbell.bsky.social · 22/09/2026
Fact 1 (part 1): More of us are saving Workplace pension saving has been resurrected. Automatic enrolment from 2012 means 9 in 10 eligible employees now save into a pension, up from just 55% in 2012. A genuine policy success story.
1131
Torsten Bell @torstenbell.bsky.social · 22/09/2026
Learning about pensions is a bit like going to the gym: you know you should do it, you feel guilty for not doing it, but you're just not sure where to begin. Here are two big facts about the UK system that everyone needs to know. torstenbell.substack.com/p/two-things...
torstenbell.substack.com
Two Things Everyone Should Know About Pensions
Learning about pensions is a bit like going to the gym: you know you should do it but you're just not sure where to begin. Here are two facts everyone should know.
65811
Torsten Bell @torstenbell.bsky.social · 19/09/2026
That’s why business investment has grown since 2024 and we’ve seen the fastest growth in the G7 this year (oddly missing from the article). There is lots more to do, but we should focus on the brilliant businesses building modern Britain, not just those who sadly seem to hate it
720626