Executive Director of the Adam Smith Institute, Sam Bowman, wrote an article for the IBTimes on the government's ongoing appeasement of pensioners, and why it's a growing problem.
But the overall picture is not good. As spending has – necessarily – fallen, the pensions bill has risen and risen and risen. The "triple lock" means that the state pension will always rise either by the inflation rate, the rate of earnings growth, or 2.5%, whichever is highest.
Over time, this would scarcely be affordable under the best circumstances. But Britain is getting older.