Triple Lock

[Eric Cartman]

The gift that keeps on giving (or taking depending on whether you work or not).

Is it even a controversial position to say something has to give soon? Looking at another 8% rise next year, increasing the total pension spend by 15 billion I think - the equivalent of ~£500 more tax per working person whilst every other pay rise is considered unaffordable and inflationary.

Obviously wherever Sunak goes, Starmer must follow so I don't think there is any hope of getting rid of it.

Anyone want to take a stab at why means testing at the very least the inflation-matching increases wouldn't be prudent at this point?

And let's take a moment to remember that 25% of those over 65 live in a household with over 1 million in assets. Appreciate that will often include the house itself, but its still wealth and still provides context behind inflation linked rises for them and real pay cuts for most working age people.

[Dorcus]

The gift that keeps on giving (or taking depending on whether you work or not).

Is it even a controversial position to say something has to give soon? Looking at another 8% rise next year, increasing the total pension spend by 15 billion I think - the equivalent of ~£500 more tax per working person whilst every other pay rise is considered unaffordable and inflationary.

Obviously wherever Sunak goes, Starmer must follow so I don't think there is any hope of getting rid of it.

Anyone want to take a stab at why means testing at the very least the inflation-matching increases wouldn't be prudent at this point?

And let's take a moment to remember that 25% of those over 65 live in a household with over 1 million in assets. Appreciate that will often include the house itself, but its still wealth and still provides context behind inflation linked rises for them and real pay cuts for most working age people.

Absolutely means testing is the sensible and fair way forward. Some pensioners need a lot more and others have far too much.

[A Quiet Monkfish]

The gift that keeps on giving (or taking depending on whether you work or not).

Is it even a controversial position to say something has to give soon? Looking at another 8% rise next year, increasing the total pension spend by 15 billion I think - the equivalent of ~£500 more tax per working person whilst every other pay rise is considered unaffordable and inflationary.

Obviously wherever Sunak goes, Starmer must follow so I don't think there is any hope of getting rid of it.

Anyone want to take a stab at why means testing at the very least the inflation-matching increases wouldn't be prudent at this point?

And let's take a moment to remember that 25% of those over 65 live in a household with over 1 million in assets. Appreciate that will often include the house itself, but its still wealth and still provides context behind inflation linked rises for them and real pay cuts for most working age people.

For pensioners like myself and my wife the state pension will pay for Council tax, utilities, tv licence, home and car insurance, basic mobile phone packages, and a tank full of petrol once a week. Fortunate enough not to need benefits of any kind, but likewise the pension just covers the overheads and nothing more. However the phrase you use, 'something has to give soon' is exactly what those who understand the principle of 'no such thing as a free lunch' is so relevant. Who wants to govern for the next 5 years ? I doubt no-one is really looking forward to the prospect..

[Eric Cartman]

For pensioners like myself and my wife the state pension will pay for Council tax, utilities, tv licence, home and car insurance, basic mobile phone packages, and a tank full of petrol once a week. Fortunate enough not to need benefits of any kind, but likewise the pension just covers the overheads and nothing more. However the phrase you use, 'something has to give soon' is exactly what those who understand the principle of 'no such thing as a free lunch' is so relevant. Who wants to govern for the next 5 years ? I doubt no-one is really looking forward to the prospect..

Well, Labour will be banking on being able to blame the Tories for a good few years.

The big one for me is why Sunak wasted his one shot at this moment in time, he is young enough to have waited it out but forever tainted now.

[JamesWales]

The reduction in pensioner poverty is a success story in recent years, but I agree. Money is finite and the focus should shift elsewhere

[Rjk]

The reduction in pensioner poverty is a success story in recent years, but I agree. Money is finite and the focus should shift elsewhere

poverty.jpg

[Dorcus]

The reduction in pensioner poverty is a success story in recent years, but I agree. Money is finite and the focus should shift elsewhere

Agree wholeheartedly

[SLUDGE FACTORY]

For pensioners like myself and my wife the state pension will pay for Council tax, utilities, tv licence, home and car insurance, basic mobile phone packages, and a tank full of petrol once a week. Fortunate enough not to need benefits of any kind, but likewise the pension just covers the overheads and nothing more. However the phrase you use, 'something has to give soon' is exactly what those who understand the principle of 'no such thing as a free lunch' is so relevant. Who wants to govern for the next 5 years ? I doubt no-one is really looking forward to the prospect..

You recieve the biggest state benefit of all ......the pension

[+ the native hipster]

The gift that keeps on giving (or taking depending on whether you work or not).

Is it even a controversial position to say something has to give soon? Looking at another 8% rise next year, increasing the total pension spend by 15 billion I think - the equivalent of ~£500 more tax per working person whilst every other pay rise is considered unaffordable and inflationary.

Obviously wherever Sunak goes, Starmer must follow so I don't think there is any hope of getting rid of it.

Anyone want to take a stab at why means testing at the very least the inflation-matching increases wouldn't be prudent at this point?

And let's take a moment to remember that 25% of those over 65 live in a household with over 1 million in assets. Appreciate that will often include the house itself, but its still wealth and still provides context behind inflation linked rises for them and real pay cuts for most working age people.

the politics of envy? i know a lot of pensioners non , non are worth 1 mill , lets just kill the old

[Dorcus]

the politics of envy? i know a lot of pensioners non , non are worth 1 mill , lets just kill the old

The politics of justice! I know loads of pensioners worth well over 1 mill. Let's not kill the old but let's level up.

[Eric Cartman]

the politics of envy? i know a lot of pensioners non , non are worth 1 mill , lets just kill the old

Ridiculous reactionary nonsense, not even worthy of a proper response.

[SLUDGE FACTORY]

poverty.jpg

So since the Blair years we have seen a substantial reduction in pensioner poverty

It's therefore time for them to take a hit

But they won't because pensioners vote ......and vote mostly tory

You can see why the triple lock is pushed by the conservatives

It's their core vote

[Rjk]

So since the Blair years we have seen a substantial reduction in pensioner poverty

It's therefore time for them to take a hit

But they won't because pensioners vote ......and vote mostly tory

You can see why the triple lock is pushed by the conservatives

It's their core vote

Under labour, the percentage of pensioners in poverty halved. Since the tories have been in power it has increased by 38%.

Pretty much all the main parties agree behind closed doors that the triple lock is unsustainable, but none of them want to be the one who removes it

[SLUDGE FACTORY]

Under labour, the percentage of pensioners in poverty halved. Since the tories have been in power it has increased by 38%.

Pretty much all the main parties agree behind closed doors that the triple lock is unsustainable, but none of them want to be the one who removes it

If labour get a big majority then maybe they can sort it out

But they got a landslide under Blair and they did very little with regard to house building which was a betrayal in my opinion

[Rjk]

If labour get a big majority then maybe they can sort it out

But they got a landslide under Blair and they did very little with regard to house building which was a betrayal in my opinion

they did a lot in a lot of areas. it will take years to sort out the mess that the Tories have left pretty much every public service this time around, so prepare to be disappointed again probably

[Heathblue]

Under labour, the percentage of pensioners in poverty halved. Since the tories have been in power it has increased by 38%.

Pretty much all the main parties agree behind closed doors that the triple lock is unsustainable, but none of them want to be the one who removes it

My wife falls into the WASPI women situation, I don't begrudge any working person a good pension it's what people deserve, but what they did to these women does put me over the top with anger, I don't care that i have to work an extra 2 years (if employed)!!!

[pipster]

So since the Blair years we have seen a substantial reduction in pensioner poverty

It's therefore time for them to take a hit

But they won't because pensioners vote ......and vote mostly tory

You can see why the triple lock is pushed by the conservatives

It's their core vote

Where are as Labour dont give two hoots about the OAPs as their core is the younger / wokey type ?

[HiVis]

the triple lock is unsustainable. With each passing year pensions form a larger part of government spending, as they rise no matter what. Coupled with the rising number of people living longer... tick tick boom. time bomb.

[Dorcus]

the triple lock is unsustainable. With each passing year pensions form a larger part of government spending, as they rise no matter what. Coupled with the rising number of people living longer... tick tick boom. time bomb.

Means testing is the only answer but which party would gamble it's electoral chances by promoting it?

[Taunton Blue Genie]

Means testing is the only answer but which party would gamble it's electoral chances by promoting it?

Means testing the State Pension, which is a less than generous state pension across the board in terms of Europe, would mean that someone who has been financially responsible and saved for their old age may receive little or nothing whilst someone who has contributed equally may receive the full whack because they squandered their lifelong income on smoking, drinking and foreign holidays etc. Or should the former group start distributing their capital artfully shortly before reaching pension age?

https://www.almondfinancial.co.uk/pe...est-of-europe/

(By the way, my very modest German State Pension represents 4.1% of my UK State Pension although only 2.7% of my working life was spent contributing over there - and it was at the beginning of my working life when I wasn't on particularly good money. Even taking into account the comparative Cost of Living in both countries, our State Benefit isn't great.)

[Heathblue]

Means testing the State Pension, which is a less than generous state pension across the board in terms of Europe, would mean that someone who has been financially responsible and saved for their old age may receive little or nothing whilst someone who has contributed equally may receive the full whack because they squandered their lifelong income on smoking, drinking and foreign holidays etc. Or should the former group start distributing their capital artfully shortly before reaching pension age?

https://www.almondfinancial.co.uk/pe...est-of-europe/

(By the way, my very modest German State Pension represents 4.1% of my UK State Pension although only 2.7% of my working life was spent contributing over there - and it was at the beginning of my working life when I wasn't on particularly good money. Even taking into account the comparative Cost of Living in both countries, our State Benefit isn't great.)

Pensions i doubt will ever be means tested, Those who make the decisions do very nicely, however, the politics of envy shine in this fred, they despise those who just get up in the morning go to work and get paid for the effort, they have never been the same since Dustbin got obliterated by Johnson and lost their promise of free WIFI.

[Eric Cartman]

Pensions i doubt will ever be means tested, Those who make the decisions do very nicely, however, the politics of envy shine in this fred, they despise those who just get up in the morning go to work and get paid for the effort, they have never been the same since Dustbin got obliterated by Johnson and lost their promise of free WIFI.

The irony..

[Eric Cartman]

Means testing the State Pension, which is a less than generous state pension across the board in terms of Europe, would mean that someone who has been financially responsible and saved for their old age may receive little or nothing whilst someone who has contributed equally may receive the full whack because they squandered their lifelong income on smoking, drinking and foreign holidays etc. Or should the former group start distributing their capital artfully shortly before reaching pension age?

https://www.almondfinancial.co.uk/pe...est-of-europe/

(By the way, my very modest German State Pension represents 4.1% of my UK State Pension although only 2.7% of my working life was spent contributing over there - and it was at the beginning of my working life when I wasn't on particularly good money. Even taking into account the comparative Cost of Living in both countries, our State Benefit isn't great.)

But that is looking at it in a vaccuum rather than within the context of wider economy and challenges/needs. Our unemployment benefit lags even further behind our counterparts in Europe, nobody seems to be shooting for a triple lock on that though. Our median income will soon be worse than countries like Poland and Slovenia. Our lowest earners are already amongst the poorest compared to statistical neighbours, the list goes on..

I don't think you can just start means testing state pension and pull the rug overnight but if the methodology behind keeping the triple lock is that inflation matching rises are costly but necessary then I don't know how that is squared with the fact that 25% of over 65s live in a household with > 1 million in assets. Maybe the massive increase should have been means tested or upon application.

Just to reiterate - £500 more in tax per working person in the UK just to fund next years expect 8% rise.. I don't blame ordinary people for voting in line with their interests (although that isn't something I tend to do) but if you are over 65 and have children/grandchildren that you care about, I would urge them to look again at the sums around keeping the triple lock. By it's design it WILL bankrupt the country, is that really a policy you want to defend.

This country is resembling a ponzi right now.

[Eric Cartman]

they did a lot in a lot of areas. it will take years to sort out the mess that the Tories have left pretty much every public service this time around, so prepare to be disappointed again probably

But they never actually told any inconvenient truths. They funded their program with PFI. Herein lies the issue, you cant win an election telling the truth.

[life on mars]

Triple lock introduced by evil Tory Osborne is evil.