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Post by Red Rackham on Sept 25, 2023 16:42:46 GMT
Triple lock state pension hope: Future of pledge may be secure for longer than anticipatedThe state pension triple lock will remain in place beyond the next election if the Conservative Party wins, plans being drawn up by Downing Street indicate. For months there has been concern that the Government is getting ready to scrap the policy due to spiralling costs. The triple lock guarantees that pensions will rise each year by inflation, average earnings, or 2.5 per cent. Earlier this month it was confirmed that the state pension for 2024-25 will rise again by 8.5 per cent. It means those on the full-rate state pension will see payments increase to £221.20 a week next year with the annual payout reaching £11,501. Officials in the Treasury had been eager to persuade politicians to scrap the triple lock going forwards due to the extraordinary cost. However, they are thought to have now been overruled by Downing Street. www.gbnews.com/money/triple-lock-state-pension-hope-future-of-pledge-may-be-secure-for-longer-than-anticipatedI suspect the triple lock will be scrapped but one thing is for sure, no party would scrap it just before a general election.
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Post by Handyman on Sept 25, 2023 17:34:26 GMT
Indeed the Conservatives would be foolish to scrap it before the GE
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Post by dappy on Sept 25, 2023 17:35:59 GMT
Indeed Red. The triple lock has served its purpose and really should be killed off now but would need a cross party consensus to do it and that isn’t going to happen. Democracy is the worst form of government (apart from all the others)
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Post by patman post on Sept 25, 2023 18:31:48 GMT
There are a few sensible decisions that need cross party support rather than short term political games. The automatic right to state pension at an age when work is still possible and winter fuel allowance are just two. Education and the NHS are others, as are climate change actions…
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Post by Bentley on Sept 25, 2023 19:01:18 GMT
It’s interesting to see 40 and 50 somethings trying to make sure that they lose out on a decent pension . Ho hum.
I suppose we are unconsciously accepting that we are sliding into the third world .
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Post by Pacifico on Sept 25, 2023 21:14:47 GMT
Personally I cannot see the triple lock as affordable - but as all the major political parties are in favor of keeping it, I suppose for the foreseable this is the future.
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Post by Red Rackham on Sept 26, 2023 2:16:52 GMT
There isn't a snowballs chance in hell the the triple lock will last 12 months past the next election, unless tax goes up. Sunak and Starmer will have very bright advisors writing conference speeches that will say how important the triple lock is, without actually committing to it. Come on, we've seen it all before. As for electoral pledges, they should be enshrined in law or put in Christmas crackers.
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Post by borchester on Sept 28, 2023 0:50:59 GMT
There isn't a snowballs chance in hell the the triple lock will last 12 months past the next election, unless tax goes up. Sunak and Starmer will have very bright advisors writing conference speeches that will say how important the triple lock is, without actually committing to it. Come on, we've seen it all before. As for electoral pledges, they should be enshrined in law or put in Christmas crackers. You would think so, but not only are us cottontops selfish bastards, we make up more than a quarter of the electorate. So the triple lock will stay. |
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Post by Red Rackham on Sept 28, 2023 12:00:20 GMT
There isn't a snowballs chance in hell the the triple lock will last 12 months past the next election, unless tax goes up. Sunak and Starmer will have very bright advisors writing conference speeches that will say how important the triple lock is, without actually committing to it. Come on, we've seen it all before. As for electoral pledges, they should be enshrined in law or put in Christmas crackers. You would think so, but not only are us cottontops selfish bastards, we make up more than a quarter of the electorate. So the triple lock will stay. I hope you're right, but as yet both Sunak and Starmer are loathe to commit to it. |
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Post by Deleted on Sept 28, 2023 13:20:08 GMT
To be fair to the coalition government, including the Tories, the triple lock is a good idea.
What we have though are some pensions relying on just the state pension, which is not enough, and wealthier pensioners that have two or three quite sizable pensions in a lot of cases.
If the triple lock is reduced or abolished those poorer pensioners will suffer the most.
Would 'means testing' the state pension in some form, to favour those with just the state pension not be a better way of going forward.
I mean does the King, who donates his pension to charity (well don Charlie), really need a state pension?
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Post by Bentley on Sept 28, 2023 13:32:43 GMT
To be fair to the coalition government, including the Tories, the triple lock is a good idea. What we have though are some pensions relying on just the state pension, which is not enough, and wealthier pensioners that have two or three quite sizable pensions in a lot of cases. If the triple lock is reduced or abolished those poorer pensioners will suffer the most. Would 'means testing' the state pension in some form, to favour those with just the state pension not be a better way of going forward. I mean does the King, who donates his pension to charity (well don Charlie), really need a state pension? If you means text the state pension then it would demotivate people to contribute to private pensions . Does the charity that the king donates his pension to need the money? |
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Post by Deleted on Sept 28, 2023 17:30:01 GMT
To be fair to the coalition government, including the Tories, the triple lock is a good idea. What we have though are some pensions relying on just the state pension, which is not enough, and wealthier pensioners that have two or three quite sizable pensions in a lot of cases. If the triple lock is reduced or abolished those poorer pensioners will suffer the most. Would 'means testing' the state pension in some form, to favour those with just the state pension not be a better way of going forward. I mean does the King, who donates his pension to charity (well don Charlie), really need a state pension? If you means text the state pension then it would demotivate people to contribute to private pensions . Does the charity that the king donates his pension to need the money? No, I mean just the state pension and assuming you meant tax (for text) we already pay tax on the state pension so an added tax would be pointless. I was thinking more of a 2 tier tax system with allowances for people who rely solely on a state pension, I am not sure how it would work but it cannot be beyond the more educated. Don't working people and their employers now have to pay for 'private' pension now which would automatically top up peoples income when they retire? If so any plan now would be 'short' term. I do not know what charity the King donates his pension too but I would expect it to be a good cause, Charles is a fine chap. |
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Post by Bentley on Sept 28, 2023 17:36:29 GMT
If you means text the state pension then it would demotivate people to contribute to private pensions . Does the charity that the king donates his pension to need the money? No, I mean just the state pension and assuming you meant tax (for text) we already pay tax on the state pension so an added tax would be pointless. I was thinking more of a 2 tier tax system with allowances for people who rely solely on a state pension, I am not sure how it would work but it cannot be beyond the more educated. Don't working people and their employers now have to pay for 'private' pension now which would automatically top up peoples income when they retire? If so any plan now would be 'short' term. I do not know what charity the King donates his pension too but I would expect it to be a good cause, Charles is a fine chap. You assume wrong . I am addressing your point “ Would 'means testing' the state pension in some form, to favour those with just the state pension not be a better way of going forward. “. The best policy is to give everyone a basic state pension and allow the poorest state pensioners to claim extra benefits . Oh look that’s what we do . |
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Post by Deleted on Sept 29, 2023 7:58:32 GMT
No, I mean just the state pension and assuming you meant tax (for text) we already pay tax on the state pension so an added tax would be pointless. I was thinking more of a 2 tier tax system with allowances for people who rely solely on a state pension, I am not sure how it would work but it cannot be beyond the more educated. Don't working people and their employers now have to pay for 'private' pension now which would automatically top up peoples income when they retire? If so any plan now would be 'short' term. I do not know what charity the King donates his pension too but I would expect it to be a good cause, Charles is a fine chap. You assume wrong . I am addressing your point “ Would 'means testing' the state pension in some form, to favour those with just the state pension not be a better way of going forward. “. The best policy is to give everyone a basic state pension and allow the poorest state pensioners to claim extra benefits . Oh look that’s what we do . "If you means text the state pension then it would demotivate people to contribute to private pensions . Does the charity that the king donates his pension to need the money"? I do not know what you mean by ' text' in this context? So do you believe that the poorest pensioners in society receive enough to live on? |
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Post by Bentley on Sept 29, 2023 13:26:19 GMT
You assume wrong . I am addressing your point “ Would 'means testing' the state pension in some form, to favour those with just the state pension not be a better way of going forward. “. The best policy is to give everyone a basic state pension and allow the poorest state pensioners to claim extra benefits . Oh look that’s what we do . "If you means text the state pension then it would demotivate people to contribute to private pensions . Does the charity that the king donates his pension to need the money"? I do not know what you mean by ' text' in this context? So do you believe that the poorest pensioners in society receive enough to live on? Answer the question that you replied to You assume wrong . I am addressing your point “ Would 'MEANS TESTING ' the state pension in some form, to favour those with just the state pension not be a better way of going forward. “. The best policy is to give everyone a basic state pension and allow the poorest state pensioners to claim extra benefits . Oh look that’s what we do . Don’t hide behind a typo and dont make up strawmen …you “ So do you believe that the poorest pensioners in society receive enough to live on?“ |
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