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“We live in a generation where we are transferring value from energy into a fund that will fund pensions in the future. When oil prices go up and down, nothing goes into my budget—it goes into this fund,” says Jonas Gahr Støre, prime minister of Norway. “From that fund, we can spend 3% or less of interest a year. We have not spent any money from that fund—only part of the interest. It’s meant to be there for future generations. It basically is meant to be a fund there forever.”
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Andy Burnham’s plan to change the State Pension triple lock from 2030 has sparked a big debate. The triple lock currently raises the State Pension by whichever is highest: inflation, average wage growth or 2.5%. Under the proposed changes, pensions would still rise each year, but some future increases could be lower than they would have been under the current rules. The government says the savings would help fund a National Care Service and free personal care for people who need it. Some support
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