{"id":854205,"date":"2026-08-13T21:20:16","date_gmt":"2026-08-13T21:20:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/854205\/"},"modified":"2026-08-13T21:20:16","modified_gmt":"2026-08-13T21:20:16","slug":"let-rich-pensioners-opt-out-of-state-pension-in-exchange-for-obe-labour-pressure-group-urges-burnham","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/854205\/","title":{"rendered":"Let rich pensioners opt out of state pension in exchange for OBE, Labour pressure group urges Burnham"},"content":{"rendered":"<p>Your support helps us to tell the story<\/p>\n<p class=\"sc-1uza6dc-0 iOIawn\">From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it&#8217;s investigating the financials of Elon Musk&#8217;s pro-Trump PAC or producing our latest documentary, &#8216;The A Word&#8217;, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.<\/p>\n<p class=\"sc-1uza6dc-0 iOIawn\">At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.<\/p>\n<p class=\"sc-1uza6dc-0 iOIawn\">The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.<\/p>\n<p>Your support makes all the difference.Read more<\/p>\n<p><a href=\"https:\/\/www.independent.co.uk\/voices\/andy-burnham-vape-shops-barber-high-street-b3031744.html\" title=\"Action Andy is still playing mayor \u2013 when we urgently need a prime minister\" rel=\"nofollow noopener\" target=\"_blank\">Andy Burnham <\/a>should introduce a \u2018<a href=\"https:\/\/www.independent.co.uk\/topic\/pensions\" rel=\"nofollow noopener\" target=\"_blank\">pensions<\/a> sacrifice <a href=\"https:\/\/www.independent.co.uk\/topic\/obe\" rel=\"nofollow noopener\" target=\"_blank\">OBE<\/a>\u2019 which would allow wealthy pensioners to opt out of their <a href=\"https:\/\/www.independent.co.uk\/topic\/state-pension\" rel=\"nofollow noopener\" target=\"_blank\">state pension<\/a> for at least three years in return for an honour, a cross-party pressure group allied with the prime minister has recommended. <\/p>\n<p>Compass, a leading <a href=\"https:\/\/www.independent.co.uk\/topic\/think-tank\" rel=\"nofollow noopener\" target=\"_blank\">think tank<\/a>, has put together a report \u2013 seen by The Independent \u2013 outlining 100 policies they believe the prime minister should introduce in his first 100 days, which will be <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.compassonline.org.uk\/100-ideas-for-100-days-of-the-burnham-government\/\">published in three parts over the next three weeks<\/a>. <\/p>\n<p>Compass is headed by Neal Lawson, who is also the co-founder of <a href=\"https:\/\/www.independent.co.uk\/news\/uk\/politics\/andy-burnham-keir-starmer-labour-leadership-b2829636.html\" rel=\"nofollow noopener\" target=\"_blank\">Mainstream Labour,<\/a> the <a href=\"https:\/\/www.independent.co.uk\/news\/uk\/politics\/mainstream-labour-burnham-keir-mandelson-b2825934.html\" rel=\"nofollow noopener\" target=\"_blank\">Burnham-backed faction set up in August 2025<\/a> that was closely associated with Mr Burnham when he was <a href=\"https:\/\/www.independent.co.uk\/news\/uk\/politics\/labour-deputy-leadership-lucy-powell-andy-burnham-phillipson-b2828129.html\" rel=\"nofollow noopener\" target=\"_blank\">preparing to challenge Sir Keir Starmer<\/a>. <\/p>\n<p>Amid growing pressure on the public finances, the report argues the prime minister should &#8220;allow rich, well-off pensioners to opt out of their state pension for 3+ years in return for a &#8216;Pensions Sacrifice\u201d OBE, as a reward for donating funds to education or another popular cause\u201d. <\/p>\n<p>It comes as Britain faces a mounting pension crisis driven by a rapidly aging population, declining birth rates, and a shrinking workforce. <\/p>\n<p>The Office for Budget Responsibility described the state pension as the largest component of welfare spending and projected that spending on it would increase by 2.7 per cent of GDP between 2028\/29 and 2073\/74, driven by population ageing and the cost of the triple-lock policy &#8211; which ensures that the state pension rises by whichever is highest: average wage growth, CPI inflation or 2.5 per cent.<\/p>\n<p>The policy, Compass said, would be &#8220;modelled on the altruism of groups like Patriotic Millionaires\u201d \u2013 which describes itself as a \u201cnonpartisan organisation of high-net-worth individuals who advocate for higher taxes on the wealthy, better wages for workers, and a reduction in economic inequality\u201d. <\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/08\/2290134500...jpeg\"  loading=\"lazy\" alt=\"The think tank has put together a report outlining 100 policies they believe the prime minister should introduce in his first 100 days\" class=\"sc-1mc30lb-0 ggpMaE\"\/>The think tank has put together a report outlining 100 policies they believe the prime minister should introduce in his first 100 days (Getty)<\/p>\n<p>Its mission is to \u201cleverage the voice of wealth to build a more just, stable, and inclusive economy and to accelerate the end of extreme wealth\u201d, the organisation says. <\/p>\n<p>It comes as the prime minister faces a number of difficult choices as he prepares for his first budget, with pressure on him to raise taxes, increase borrowing or cut spending on welfare to fund Britain\u2019s growing defence bill and pay for his plan to reform the care system. <\/p>\n<p>He is also under pressure to boost Britain\u2019s sluggish economic growth, which has taken a hit as a result of the Iran war, and ease mounting cost of living pressures.<\/p>\n<p>Within days of taking office, Mr Burnham announced a 20 per cent business rate cut for pubs, clubs and live music venues, a <a href=\"https:\/\/www.independent.co.uk\/topic\/vat\" rel=\"nofollow noopener\" target=\"_blank\">VAT<\/a> cut to <a href=\"https:\/\/www.independent.co.uk\/topic\/electricity-bills\" rel=\"nofollow noopener\" target=\"_blank\">electricity bills<\/a> and capped bus fares to <a href=\"https:\/\/www.independent.co.uk\/news\/uk\/politics\/andy-burnham-cabinet-bus-fares-b3019216.html\" rel=\"nofollow noopener\" target=\"_blank\">\u00a32 from January<\/a>.<\/p>\n<p>The business rate cuts alone are expected to cost the government around \u00a3100m per year \u2013 but it is unclear how it will be funded.<\/p>\n<p>Mr Burnham is also facing at least a \u00a34.7bn black hole to fill in Sir <a href=\"https:\/\/www.independent.co.uk\/topic\/keir-starmer\" rel=\"nofollow noopener\" target=\"_blank\">Keir Starmer<\/a>\u2019s <a href=\"https:\/\/www.independent.co.uk\/topic\/defence\" rel=\"nofollow noopener\" target=\"_blank\">defence<\/a> spending plan. But announcing his first budget will take place October 28, Mr Healey vowed it would be \u201cbuilt on fiscal discipline\u201d.<\/p>\n<p>Compass has also piled further pressure on Mr Burnham to consider implementing a wealth tax, suggesting a two per cent wealth tax on every \u00a31m, as well as a tax of 5-10 per cent on wealth greater than \u00a310m to fund universal basic income for citizens in need. <\/p>\n<p>The policy document also advocates for \u201cemergency decarbonisation action\u201d, including a 50mph cap on fossil fuel powered cars and a maternity fund, modelled on Denmark\u2019s DA Barsel fund which sees all companies pay a small quarterly sum per employee into a national fund, from which companies can claim pay for staff during parental leave. <\/p>\n<p>Downing Street has been contacted for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"Your support helps us to tell the story From reproductive rights to climate change to Big Tech, The&hellip;\n","protected":false},"author":2,"featured_media":854206,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,63,99,186,184,185],"class_list":["post-854205","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-au","tag-australia","tag-business","tag-finance","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/854205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=854205"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/854205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/854206"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=854205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=854205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=854205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}