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]

Re: 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.

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]

Re: 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.

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]

Re: Triple Lock

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]

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

[Dorcus]

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

Agree wholeheartedly

[SLUDGE FACTORY]

Re: Triple Lock

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]

Re: 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.

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

[Dorcus]

Re: Triple Lock

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.

[Rjk]

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

poverty.jpg

[Eric Cartman]

Re: Triple Lock

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]

Re: Triple Lock

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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

[Feedback]

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.

[Rjk]

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

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

[Dorcus]

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.

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