State pensioners on course for a triple lock double boost
Discussion
This is an interesting article as the suggestion is that an inflation spike could result in a couple of "good years" for state pensioners under the triple lock rules.
State pensioners on course for a triple lock ‘double boost’
"Inflation spikes are often followed by stronger wage growth a year later, allowing pensioners to benefit twice from rising prices."
Nobody wants to see pensioners struggle but I don't think the absurd situation where households with incomes of £70K/year are getting a winter fuel allowance and a significant increase each and every year "no questions asked" is sustainable is it?
Especially when many younger people are being asked to fund it whilst many of them can't afford to get a foot on the housing ladder themselves and can't be confident they'll get anything like the same safeguarded benefits when (if) they reach a (ever increasing) retirement age.
Surely at some point this has to be looked at for reform doesn't it?
State pensioners on course for a triple lock ‘double boost’
"Inflation spikes are often followed by stronger wage growth a year later, allowing pensioners to benefit twice from rising prices."
Nobody wants to see pensioners struggle but I don't think the absurd situation where households with incomes of £70K/year are getting a winter fuel allowance and a significant increase each and every year "no questions asked" is sustainable is it?
Especially when many younger people are being asked to fund it whilst many of them can't afford to get a foot on the housing ladder themselves and can't be confident they'll get anything like the same safeguarded benefits when (if) they reach a (ever increasing) retirement age.
Surely at some point this has to be looked at for reform doesn't it?
JagLover said:
Triple lock should go.
However cpi uprating is standard and I get the impression many of those against triple lock also oppose inflationary uplifts.
Most are just anti OAP's, full stop.However cpi uprating is standard and I get the impression many of those against triple lock also oppose inflationary uplifts.
How dare we live beyond retirement age and on into our 80's / 90's.
What a drain on society.
It's too late now, but it should always have been treated a benefit and paid like other benefits.
But it never was, and now the mindset is people, even billionaires 'deserve it', so we are where we are. The genie won't be getting back in the bottle.
Mind you, given how pretty much all governments seem to be unable to apportion benefits using common sense it might not have been any better (one example, how on earth can anyone ever be better off not working?)
But it never was, and now the mindset is people, even billionaires 'deserve it', so we are where we are. The genie won't be getting back in the bottle.
Mind you, given how pretty much all governments seem to be unable to apportion benefits using common sense it might not have been any better (one example, how on earth can anyone ever be better off not working?)
JagLover said:
Triple lock should go.
However cpi uprating is standard and I get the impression many of those against triple lock also oppose inflationary uplifts.
The only thing private sector workers get at CPI is the interest on their student loans, with some extra dolloped on top. So they can pay an extra 9% tax for the rest of their lives to pay for parasites.However cpi uprating is standard and I get the impression many of those against triple lock also oppose inflationary uplifts.
Why shouldn't pensioners also get poorer when the rest of the country does? How about a hit to the state pension in proportion to each new increase in tax burden for the median worker that, after all, is paying for it.
BigMon said:
It's too late now, but it should always have been treated a benefit and paid like other benefits.
But it never was, and now the mindset is people, even billionaires 'deserve it', so we are where we are. The genie won't be getting back in the bottle.
Mind you, given how pretty much all governments seem to be unable to apportion benefits using common sense it might not have been any better (one example, how on earth can anyone ever be better off not working?)
If it was then what of NI. The mindset of even billionaires deserve it is because it is a state backed insurance scheme and one in which high earners get less back than they put in.But it never was, and now the mindset is people, even billionaires 'deserve it', so we are where we are. The genie won't be getting back in the bottle.
Mind you, given how pretty much all governments seem to be unable to apportion benefits using common sense it might not have been any better (one example, how on earth can anyone ever be better off not working?)
BigMon said:
It's too late now, but it should always have been treated a benefit and paid like other benefits.
But it never was, and now the mindset is people, even billionaires 'deserve it', so we are where we are. The genie won't be getting back in the bottle.
Mind you, given how pretty much all governments seem to be unable to apportion benefits using common sense it might not have been any better (one example, how on earth can anyone ever be better off not working?)
It really shouldn’t be, hardworking people have paid for this through their working life, the fact that consecutive governments have been careless with their pension ‘ni’ contributions is no fault of theirs, nor is the fact that they might have been in a position to make other pension arrangements. But it never was, and now the mindset is people, even billionaires 'deserve it', so we are where we are. The genie won't be getting back in the bottle.
Mind you, given how pretty much all governments seem to be unable to apportion benefits using common sense it might not have been any better (one example, how on earth can anyone ever be better off not working?)
Old age pensions not a benefit it’s been paid for.
Edible Roadkill said:
It really shouldn t be, hardworking people have paid for this through their working life, the fact that consecutive governments have been careless with their pension ni contributions is no fault of theirs, nor is the fact that they might have been in a position to make other pension arrangements.
Old age pensions not a benefit it s been paid for.
Have you paid enough in though?Old age pensions not a benefit it s been paid for.
State pension is what? Roughly worth £300k if it were a private scheme? How many have paid in that amount alongside every other government spending commitments?
Add in that life time benefits spongers also get the same. How much have they paid in?
And your pension is being paid by those currently working. You paid for someone else's whilst you were working (if you're retired that is
)Edible Roadkill said:
BigMon said:
It's too late now, but it should always have been treated a benefit and paid like other benefits.
But it never was, and now the mindset is people, even billionaires 'deserve it', so we are where we are. The genie won't be getting back in the bottle.
Mind you, given how pretty much all governments seem to be unable to apportion benefits using common sense it might not have been any better (one example, how on earth can anyone ever be better off not working?)
It really shouldn t be, hardworking people have paid for this through their working life, the fact that consecutive governments have been careless with their pension ni contributions is no fault of theirs, nor is the fact that they might have been in a position to make other pension arrangements. But it never was, and now the mindset is people, even billionaires 'deserve it', so we are where we are. The genie won't be getting back in the bottle.
Mind you, given how pretty much all governments seem to be unable to apportion benefits using common sense it might not have been any better (one example, how on earth can anyone ever be better off not working?)
Old age pensions not a benefit it s been paid for.
I'm 53 now and I suspect the pensioners of today have it far easier then I will. I dread to think how the generation after me will fare but I certainly do not envy them one iota.
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