State pension increase - good, bad, indifferent

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The State pension increased by 10.1% in the budget, the triple lock has been maintained ensuring a minimum level of income for those eligible. This is perhaps twice that of current work pay increases. Good, bad, indifferent.

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I support the NHS doctors/nurses/ paramedic staff in their quest for a decent pay rise. The degradation of their pay over the past decade or more is shameful Tory policy which has now come to a head.
Back on topic, most people in work today will soon become pension claimants (hopefully). For this reason it is important to retain the triple lock on pensions that will ensure the value of the pension payment is kept.

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Some really interesting views posted.
I do recall one of my brothers paid into a private pension through his employer. The employer took the money out of the fund and then promptly went bust, he lost, along with his co-workers his entire pension contribution. This was years ago, I expect those situations could not happen now?

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GT03ROB said:

crankedup5 said:

Some really interesting views posted.
I do recall one of my brothers paid into a private pension through his employer. The employer took the money out of the fund and then promptly went bust, he lost, along with his co-workers his entire pension contribution. This was years ago, I expect those situations could not happen now?

thats kind of what countdown is proposing the government do……….

Back in my brothers day, the pension fund seemed to be under the control of the employer, not sure how they got away with that. Tens of thousands of pounds lost to an unscrupulous employer. Theft is what it was, pure simple theft.

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Blue62 said:

Biggy Stardust said:

Up to 50 years of poor life choices can be a real bugger.

Indeed, what to do with those people who make poor life choices, it’s all their own fault so maybe euthanise them? It would mean a bit more for those of us who made good life choices.

At the same time help refugees? Some things in life feel surreal at times .

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Biggy Stardust said:

Blue62 said:

You appear to be pretty sure of your ground, so what would you do with all these people not bothering to work and having children they can't afford? Do we invest in educating their offspring so that we have a chance to break the cycle, or let them all starve to death?

I do wonder about the numbers though, are they a biggest drain on our limited resources?

I commented that if the pensioners haven't made any provision for their old age then they can hardly complain when their life isn't as luxurious as they might wish.
I made no comment on kids' education, although I consider it to be a good investment in those who make use of it.

I tend to agree to a certain extent although not every person is in a position to be financially able to save extra cash into a private pension. The State pension is really only a safety net.
Agree, education, drive and strive for a decent life, unfortunately our current level of taxation makes that ever more tough.

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vulture1 said:

crankedup5 said:

I support the NHS doctors/nurses/ paramedic staff in their quest for a decent pay rise. The degradation of their pay over the past decade or more is shameful Tory policy which has now come to a head.
Back on topic, most people in work today will soon become pension claimants (hopefully). For this reason it is important to retain the triple lock on pensions that will ensure the value of the pension payment is kept.

Everyone's pay has degraded.
This seems to be the argument of all the unions that in reqlbterms we are 20 30 40% worse off than 10 years ago.
But the whole country is poorer as the rest of the world gets better off.
Offshore jobs to India and China manufacturing them wonder why your standard of living isndropping

Not disagreeing with your comments at all, however looking at the pay levels of the private sector v public sector it is very notable that the private sector have increased the pay gap substancially over the public sector. Looking at the period of the 2010 - 2022. But yes living standards across the board, with a few exceptions. have dropped. BTW I looked at the New Statesman graphs published.

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Bluequay said:

crankedup5 said:

vulture1 said:

crankedup5 said:

I support the NHS doctors/nurses/ paramedic staff in their quest for a decent pay rise. The degradation of their pay over the past decade or more is shameful Tory policy which has now come to a head.
Back on topic, most people in work today will soon become pension claimants (hopefully). For this reason it is important to retain the triple lock on pensions that will ensure the value of the pension payment is kept.

Everyone's pay has degraded.
This seems to be the argument of all the unions that in reqlbterms we are 20 30 40% worse off than 10 years ago.
But the whole country is poorer as the rest of the world gets better off.
Offshore jobs to India and China manufacturing them wonder why your standard of living isndropping

Not disagreeing with your comments at all, however looking at the pay levels of the private sector v public sector it is very notable that the private sector have increased the pay gap substancially over the public sector. Looking at the period of the 2010 - 2022. But yes living standards across the board, with a few exceptions. have dropped. BTW I looked at the New Statesman graphs published.

According to the IFS when you include pension contributions average public sector renumeration is 6% higher than the private sector.

Indeed so, the problem has arisen now that erosion of pay through inflation and below inflation pay awards has led to the current issue. You cant live on pension contributions before you retire which means baked beans on toast for years. No easy answers, maybe don’t work in the public sector and we are seeing the results of that in the NHS right now.