Pensions triple lock - doomed ?
Discussion
As thread title, will the Tories abolish the pension triple lock or at least have a fiddle with it?
With the rate of inflation rising I foresee in my crystal ball pensioners taking a hit over the next Parliament.
Apparently us oldies are already sharpening our pencil to place a voting X in a box which is not Tory. Our PM seems to be taking a very big gamble with the grey vote.
What do you say about the issue ?
With the rate of inflation rising I foresee in my crystal ball pensioners taking a hit over the next Parliament.
Apparently us oldies are already sharpening our pencil to place a voting X in a box which is not Tory. Our PM seems to be taking a very big gamble with the grey vote.
What do you say about the issue ?
Dixy said:
You oldies were able to influence the current situation before it happened but failed to and have been well insulated from the recent cutbacks. Now you are whinging about having to lie in the bed you made. Finally you are threatening to sink the ship. I hope if you have children they despise you as much as I do.
Well thought through balanced debating points from an interlectural giant. 
stongle said:
crankedup said:
As thread title, will the Tories abolish the pension triple lock or at least have a fiddle with it?
With the rate of inflation rising I foresee in my crystal ball pensioners taking a hit over the next Parliament.
Apparently us oldies are already sharpening our pencil to place a voting X in a box which is not Tory. Our PM seems to be taking a very big gamble with the grey vote.
What do you say about the issue ?
Bit ironic coming from one of the more vociferous Brexit posters! With inflation being driven by GBP devaluation you have to wonder about the competence of the electorate. If you have a private pension, particularly invested in U.K. Equities the FX effect would actually be helping you given the effect of ftse companies with US earnings (and the current low interest rate environment).With the rate of inflation rising I foresee in my crystal ball pensioners taking a hit over the next Parliament.
Apparently us oldies are already sharpening our pencil to place a voting X in a box which is not Tory. Our PM seems to be taking a very big gamble with the grey vote.
What do you say about the issue ?
Anyway, everyone has to take one for the team to get the best result of Brexit, we need to cut welfare spending across the board. With better healthcare people can work longer anyway (with an aging population private or self provision should be further encouraged - do it right and early retirement is a feasible option).
And who is the protest vote? Labour or Lib Dems; parties whom are going to bankrupt future generations? Anyone whom does this is a bit of a c**t.
Taking one for the team is a bit rich!! Us pensioners have been stuck with savings interest rates at ground level for years, subsidising those mortgage payments. The second point I would make is the fact that pensioners have generally acted as the Bank of mum and dad helping thier children onto the housing market.
So far as the actual subject of the thread is concerned, the State pension at £115 week is hardly a Kings ransom is it. Two half percent on top is not something that I would personally fret over losing.
TwigtheWonderkid said:
johnxjsc1985 said:
these greedy pensioners paying for 50 plus years and then living the high life on £115 a week.
If were talking about the ones down my street, maybe they can downsize their £2m houses bought for £5K in 1965 to release some capital. Or just supplement their state pension with their final salary private pension.grumbledoak said:
crankedup said:
What do you say about the issue ?
"Generation ME!" continues to disappoint.Don't worry, you will get your turn, if you work hard enough and are smart enough.
good spot. Can I blame my ipad? no, thought not.London424 said:
crankedup said:
grumbledoak said:
crankedup said:
What do you say about the issue ?
"Generation ME!" continues to disappoint.Don't worry, you will get your turn, if you work hard enough and are smart enough.
Goes to perhaps prove a broken system which is why we and the rest of Europe is going tits up, politically.
BigMon said:
Given that most pensioners at the moment have it better than future generations of pensioners will ever have it then this seems a suitable response to the original post.
Our two will certainly have it as good or better than us, having both worked to better themselves. Each are aware of thier future financial years and have been taking actions required that will go toward ensuring those futures. They will also both benefit from thier inheritance at some point. So save your violin for those that deserve it perhaps, those that have not cared for thier own futures. 
BigMon said:
crankedup said:
Our two will certainly have it as good or better than us, having both worked to better themselves. Each are aware of thier future financial years and have been taking actions required that will go toward ensuring those futures. They will also both benefit from thier inheritance at some point. So save your violin for those that deserve it perhaps, those that have not cared for thier own futures.
Well bully for 'your two'.You're deluding yourself if you think future generations of pensioners aren't, in all likelihood, going to be worse off than those at present due to a wide variety of factors which cannot simply be dismissed with 'it's their own fault for not taking care of themselves'.
No more final salary pensions, much poorer annuity rates and the likelihood that the NHS will be nothing like it is at present in terms of free service to name but three factors.
Apart from that why the f**k should I care about others, seems to be the popular train of thought of the young generation. So yes, bully for me, number one comes first and that's my family.
Smollet said:
crankedup said:
TwigtheWonderkid said:
johnxjsc1985 said:
these greedy pensioners paying for 50 plus years and then living the high life on £115 a week.
If were talking about the ones down my street, maybe they can downsize their £2m houses bought for £5K in 1965 to release some capital. Or just supplement their state pension with their final salary private pension.johnxjsc1985 said:
crankedup said:
Maybe we should abandon the current Capitalistic Society and live under Communist rule. You seem to be judging your neighbours in a bad light for being successful ?
give him a break he is still reeling from his declaration that Rafa Benitez was the worst manager in the championship and would be sacked by Christmas.People need to remember that if they are lucky they will also become old and may well be dependant on the state to some extent.
Bet plenty of Newcastle brown has gone down well.Yup, it's not like, can't wait until I'm old then I can be perceived as being a burden on the State and 'dispised' by some for having lived. Thank God people like that are a very small minority.
Murph7355 said:
loafer123 said:
Increasing at the greater of earnings inflation or prices inflation is more than enough protection, so this is a good idea to reign in future welfare cost growth. Something has to give and it is either this or a more rapidly increasing retirement age.
Pensions ONLY need to inflate by price inflation. There is absolutely no need for the other two links and if they were scrapped tomorrow it wouldn't be soon enough.
If pensioners wish to keep pace with people earning they can go and earn. And if they want to outpace price rises they can invest their personal money elsewhere.
This should be one of those cuts that should be a nailed on no brainer.
The overhaul worked and the State pension can be discribed as reasonable imo. Further agree that us pensioners who wish for a more prosperous lifestyle can chance it on investments. Where to invest is the problem, it appears many investors are turning thier backs on traditional safe investment areas such as building societies and banks. Very difficult for a pensioner to be able to invest and earn a good return in the current climate, sure the stock market has done well recently, but it's the long term certainty required and safe investments now return a loss.
Murph7355 said:
crankedup said:
Agreed, the triple lock was only introduced as a mechanism for bring pensions up to a level that Government deemed/agreed is a acceptable amount Pensions has fallen to a level whereby it was a National disgrace, recall the 47p increase which set in motion the pensions overhaul.
The overhaul worked and the State pension can be discribed as reasonable imo. Further agree that us pensioners who wish for a more prosperous lifestyle can chance it on investments. Where to invest is the problem, it appears many investors are turning thier backs on traditional safe investment areas such as building societies and banks. Very difficult for a pensioner to be able to invest and earn a good return in the current climate, sure the stock market has done well recently, but it's the long term certainty required and safe investments now return a loss.
You need to invest in a new iPad and an hour a day with Mavis Beacon! The overhaul worked and the State pension can be discribed as reasonable imo. Further agree that us pensioners who wish for a more prosperous lifestyle can chance it on investments. Where to invest is the problem, it appears many investors are turning thier backs on traditional safe investment areas such as building societies and banks. Very difficult for a pensioner to be able to invest and earn a good return in the current climate, sure the stock market has done well recently, but it's the long term certainty required and safe investments now return a loss.
Murph7355 said:
sidicks said:
ATG said:
(Also what fraction of NI are you allocating to the virtual fund given that people also think of it as being a contribution to the NHS, unemployment benefits, etc)
With wages increasing at 3% p.a. (And a current average wage at £27k), growth of 5% p.a. would require a contribution rate of 30.5% to get you to £600k after 45 years...People generally have no clue whatsoever about the true cost of things.
I await the criticism of your posting style and approach in 5....
Dicing with stat's is a meaningless exercise used by people who earn livings by researching them out for politicians to use them and abuse them.
Only those that were promised a repayment of money that they paid in + interest have earnt that right.
Yes a lifetime spent building a good reputatation regarding inter lectural debate ruined by a moment of inattention and haste. Such is the world today, judgemental, harsh, unforgiving, full of politically correct circus performers. My world has been blown apart and will never be the same again
sidicks said:
pim said:
I've had a few quid a week pension rise this year the state pension.Rates have shot up and cost of living.It makes no sense? Balks to you started work at 16 I deserve my few pounds.
You may well deserve the pension - why do you think that you deserve an additional uplift that a) wasn't factored into your contributions, b) wasn't part of your initial pension promise and c) is more generous than the wage increases that many hardworking people are facing?Pensioners certainly deserved the triple lock application, it was introduced for the simple reason of lifting the pension payment to what the Government feels is a fair and proportionate sum of money to pensioners. That level has now been reached, thus the possible removal of all or some of the triple lock.
turbobloke said:
Possibly not doomed after all...the DT an hour or so ago published an online piece claiming that May is considering keeping the triple lock guarantee, under pressure it says, so a reasonable chance
http://www.telegraph.co.uk/news/2017/04/26/theresa...
I heard a snippet, the triple lock may be downgraded to a double lock. Having opened this thread using the voting of pensioners may be directed to other political parties it's possible that the advisors have took note. http://www.telegraph.co.uk/news/2017/04/26/theresa...
economicpygmy said:
BigMon said:
Looks like he's had a powerfully built company director overhaul.
I particularly admired the 'as long as I'm OK fk the rest of them' sentiment.
I particularly admired the 'as long as I'm OK fk the rest of them' sentiment.
And the comment about younger generations not caring. I was speaking to a friend who works in the NHS and they were telling me how unsustainable elderly care is. At some point, inheritance tax will have to skyrocket to cover the 2030 liabilities via assets (unless the other equally unpopular solutions are used).
political attitude has come about as a result of the displays of public responses directed at fellow citizens regarding brexit. Not particularly posts in here, although that is partly the case, but in the wider media arena.
Just struck me that people in general are out for themselves, it's taken me a lifetime to understand that number one comes first.
Dr Jekyll said:
crankedup said:
I would like to offer my thoughts on this question.
Pensioners certainly deserved the triple lock application, it was introduced for the simple reason of lifting the pension payment to what the Government feels is a fair and proportionate sum of money to pensioners. That level has now been reached, thus the possible removal of all or some of the triple lock.
If the pension had been raised in line with prices since it's inception, it would now be around £25 a week.Pensioners certainly deserved the triple lock application, it was introduced for the simple reason of lifting the pension payment to what the Government feels is a fair and proportionate sum of money to pensioners. That level has now been reached, thus the possible removal of all or some of the triple lock.
esxste said:
The irony of this thread is off the scale.
May won't commit to triple lock because its not affordable. And it will be made even less affordable by Brexit.
In 2017, the Government will spend ~12% of its budget on Pensions, or nearly 5% of the total national income, on Pensions. These figures will only rise as more and more from the baby boomers retire over the next 10 years, and the death rate continues to slow.
Since we're not even sure if Theresa May and her Three Brexiteers know what Brexit means yet; let alone anyone else; we can only speculate that the hard Brexit being talked about is going to mean an economy impacted by restrictions on access to the European Single Market and reduction in numbers of working immigrants; (and the loss of tax income from them)
So... a weakened economy, and fewer tax payers.
And even if you're a brexiteer who dismisses all such arguments out of hand, it's still a bit rich for the selfish grey haired generation to whine about the loss of triple lock, when their children and grandchildren not only face higher taxes in coming years, we've already been told we won't be getting our state pensions at 65.
Politics dear boy, politics.May won't commit to triple lock because its not affordable. And it will be made even less affordable by Brexit.
In 2017, the Government will spend ~12% of its budget on Pensions, or nearly 5% of the total national income, on Pensions. These figures will only rise as more and more from the baby boomers retire over the next 10 years, and the death rate continues to slow.
Since we're not even sure if Theresa May and her Three Brexiteers know what Brexit means yet; let alone anyone else; we can only speculate that the hard Brexit being talked about is going to mean an economy impacted by restrictions on access to the European Single Market and reduction in numbers of working immigrants; (and the loss of tax income from them)
So... a weakened economy, and fewer tax payers.
And even if you're a brexiteer who dismisses all such arguments out of hand, it's still a bit rich for the selfish grey haired generation to whine about the loss of triple lock, when their children and grandchildren not only face higher taxes in coming years, we've already been told we won't be getting our state pensions at 65.
I voted for out of the eu and I will vote Tory at this GE, for the first time in my life. However, my vote is only to secure the best brexit deal possible and May is the only politician who seems to have an ounce of political intelligence (as opposed to interlectural person)
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