I'm on the fence a bit about this. Pensioners WILL get a rise, year on year exactly as they did before. Just one of the components being used to calculate the size of that rise is not being used anymore.

On the other hand, it is smoke and mirrors to avoid having to tax certain people more and feeds into this tiresome "balance the books" idea, which has never been true and probably never will. In other words, it avoids the structural reality of how the government pays for things to feed into this idea that someone has to suffer for someone else to have something nice. That is not automatically true, and the government chooses who should suffer anyway. Notably, it's not the richest people in society for some reason. Yet again.