Triple Lock

[+ the native hipster]

Re: Triple Lock

i hate pensioners more than you do. a pensioner hate off, how bizarre.

[Eric Cartman]

Re: Triple Lock

What's the oppositions stance on these two matter of Triple Lock , Benefit Increases, just not seen much said 🤔.. don't fook with the voting oldies

I think you should probably try reading the thread because its been touched on a few times.

[Taunton Blue Genie]

Re: Triple Lock

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/pension-breakeven-index-how-does-the-uk-state-pension-compare-to-the-rest-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.)

[pipster]

Re: Triple Lock

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 ?

[Heathblue]

Re: Triple Lock

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/pension-breakeven-index-how-does-the-uk-state-pension-compare-to-the-rest-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]

Re: Triple Lock

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/pension-breakeven-index-how-does-the-uk-state-pension-compare-to-the-rest-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]

Re: Triple Lock

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..

[Alan Lung]

Re: Triple Lock

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

WTF?? The state pension is not a benefit, it's been paid for by the recipient over their working life.

[Heathblue]

Re: Triple Lock

WTF?? The state pension is not a benefit, it's been paid for by the recipient over their working life.

It's the envy, they despise workers getting it.

[Dorcus]

Re: Triple Lock

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/pension-breakeven-index-how-does-the-uk-state-pension-compare-to-the-rest-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.)

This isn't a morality issue. It's not the Good, the Bad and the Ugly.

[SLUDGE FACTORY]

Re: Triple Lock

WTF?? The state pension is not a benefit, it's been paid for by the recipient over their working life.

Yes it is

https://www.benefitsguide.co.uk/stat...20or%20credits.

[SLUDGE FACTORY]

Re: Triple Lock

It's the envy, they despise workers getting it.

Cobblers
https://www.benefitsguide.co.uk/stat...20or%20credits.

[SLUDGE FACTORY]

Re: Triple Lock

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

That might be your conclusion but it's not mine

[Eric Cartman]

Re: Triple Lock

WTF?? The state pension is not a benefit, it's been paid for by the recipient over their working life.

I think it is still defined as a benefit by the government.

Most people won't have paid enough NI to cover even a few years of state pension, it is a ponzi that current working age people pay for.

Ironically the current pensioners were quite happy for the older generations (their parents and grandparents) to die in poverty and freeze to death when they were the ones contributing to the system rather than taking from it. Now the shoe is on the other foot and it's envy to suggest that if we are looking to target cuts then maybe the triple lock is something to take a second glance at

[Dorcus]

Re: Triple Lock

I think it is still defined as a benefit by the government.

Most people won't have paid enough NI to cover even a few years of state pension, it is a ponzi that current working age people pay for.

Ironically the current pensioners were quite happy for the older generations (their parents and grandparents) to die in poverty and freeze to death when they were the ones contributing to the system rather than taking from it. Now the shoe is on the other foot and it's envy to suggest that if we are looking to target cuts then maybe the triple lock is something to take a second glance at

It is a benefit but subject to a minimum number of years contributions having being made. However, someone could have spent their entire life unemployed and still have qualified for the State Pension because the government will have made those contributions on the claimant's behalf.

Like someone pointed out elsewhere in the thread the UK's state pension provision is woefully short compared to European equivalent pensions. The introduction of the Triple Lock was an attempt to address pensioner poverty but it only serves to provide one huge chunk of pensioners with more than they'll ever need which means it ends up in the pockets of their offspring, while being grossly insufficient to meet the basic needs of the other great chunk of pensioners. It's a blunt instrument which is unsustainable for much longer.