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Thread: Triple Lock

  1. #1

    Triple Lock

    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.

  2. #2

    Re: Triple Lock

    Quote Originally Posted by Eric Cartman View Post
    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.

  3. #3

    Re: Triple Lock

    Quote Originally Posted by Eric Cartman View Post
    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..

  4. #4

    Re: Triple Lock

    Quote Originally Posted by A Quiet Monkfish View Post
    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.

  5. #5

    Re: Triple Lock

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

  6. #6

    Re: Triple Lock

    Quote Originally Posted by JamesWales View Post
    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

  7. #7

    Re: Triple Lock

    Quote Originally Posted by A Quiet Monkfish View Post
    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

  8. #8

    Re: Triple Lock

    Quote Originally Posted by Eric Cartman View Post
    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

  9. #9

    Re: Triple Lock

    Quote Originally Posted by + the native hipster View Post
    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.

  10. #10

    Re: Triple Lock

    Quote Originally Posted by JamesWales View Post
    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

  11. #11

    Re: Triple Lock

    Quote Originally Posted by + the native hipster View Post
    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.

  12. #12

    Re: Triple Lock

    Quote Originally Posted by Rjk View Post
    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

  13. #13

    Re: Triple Lock

    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.

  14. #14

    Re: Triple Lock

    Quote Originally Posted by SLUDGE FACTORY View Post
    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

  15. #15

    Re: Triple Lock

    Quote Originally Posted by HiVis View Post
    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?

  16. #16

    Re: Triple Lock

    Quote Originally Posted by Rjk View Post
    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

  17. #17

    Re: Triple Lock

    Quote Originally Posted by SLUDGE FACTORY View Post
    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

  18. #18
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    Re: Triple Lock

    Quote Originally Posted by Rjk View Post
    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)!!!

  19. #19

    Re: Triple Lock

    Quote Originally Posted by Rjk View Post
    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.

  20. #20

    Re: Triple Lock

    Triple lock introduced by evil Tory Osborne is evil.

  21. #21

    Re: Triple Lock

    Quote Originally Posted by life on mars View Post
    Triple lock introduced by evil Tory Osborne is evil.
    Well it was being fiscally irresponsible to keep hold of votes

    It's pretty satanic

  22. #22

    Re: Triple Lock

    I can only speak for myself here, but, although I’m hardly wealthy, I can get by on the work and state pensions I receive and it’s wrong that I will receive close to twenty per cent more in my state pension over two years when you see the sort of figures being offered to some of those involved in current long running pay disputes.

  23. #23

    Re: Triple Lock

    they have done well for themselves , punish them , a fascinating insight into the world of people who scratch expensive cars

  24. #24

    Re: Triple Lock

    Quote Originally Posted by + the native hipster View Post
    they have done well for themselves , punish them , a fascinating insight into the world of people who scratch expensive cars
    They have been lucky in life, they should share their good fortune. F**k expensive cars, Trabants are still the best.

  25. #25

    Re: Triple Lock

    Quote Originally Posted by Dorcus View Post
    They have been lucky in life, they should share their good fortune. F**k expensive cars, Trabants are still the best.
    or i am a failure, drag good people down to my level , 2 strokes rule

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