Triple Lock

[dmahon]

Is it reasonable to set fire to our economy to protect the elderly, damage the life prospects of everyone else including our children, then completely insulate them from any financial impacts?

https://www.independent.co.uk/news/uk/politics/ris...

“Rishi Sunak says he is ready to hand £4bn to pensioners next year to keep his “triple lock” pledge, despite rejecting a Covid catch-up plan for schools as too expensive.

The bounce-back from the pandemic has pushed average wage rises close to 6 per cent – which, under the controversial rule, would then become the increase in the state pension.”

[dmahon]

NRS said:

The issue is they are effectively getting higher pay rises than the workers who pay their pensions, as they either get the same rise or better. Which is not exactly fair. Even more so given the future generations will not have such long retirement ages, such good contributions and will need to take the risk on personally instead of it being on the employer.

They are also getting a pay rise when half of the private sector have been buggered financially and kids have had a year taken away from them all to protect the elderly. I think the headline of £4 billion increment for pensioners and £1 billion for school kids is absolutely immoral with this context.