Triple Lock.

[Jamie1952]

The Bank of England (BoE) has predicted that inflation is set to reach four per cent by September, that’s the month when the State Pension rise is based on meaning pensioners who are entitled to it could see their State Pension increase by £478 annually.
Reeves will have to find £450 million to pay for the triple lock, dare she scrap it or make some changes to it ?

[derwent]

There is growing momentum for the state pension to be changed in such a way so as not to impoverish potentially millions of people.
One way is to means test the pension.
There are millionaires for example getting it and removing it from them will cause very little hardship, if none at all.
The triple lock is essential whilst ever the pension is so low. Boosting it up to a liveable amount, using for example the national living wage as the basis of calculating it and considering making it tax free would go a long way.
At the same time do something similar to the WFA restoration where only pensioners with an income of less than a set amount qualify for it.

Give every qualifying pensioner the national living wage untaxed and none of the add on gimmicks like bus passes, free tv, etc etc.
Much simpler to manage I would guess.

[kevin pooles gloves]

The Bank of England (BoE) has predicted that inflation is set to reach four per cent by September, that’s the month when the State Pension rise is based on meaning pensioners who are entitled to it could see their State Pension increase by £478 annually.
Reeves will have to find £450 million to pay for the triple lock, dare she scrap it or make some changes to it ?

Great news.

But not sure how long the triple lock will last.
Wudent be surprised if there's an announcement it this Autumn Budget.
I reckon it's Gunna be brutal if your working English.
But a barrel of freebies fun if your a Boaties thing.

[kevin pooles gloves]

There is growing momentum for the state pension to be changed in such a way so as not to impoverish potentially millions of people.
One way is to means test the pension.
There are millionaires for example getting it and removing it from them will cause very little hardship, if none at all.
The triple lock is essential whilst ever the pension is so low. Boosting it up to a liveable amount, using for example the national living wage as the basis of calculating it and considering making it tax free would go a long way.
At the same time do something similar to the WFA restoration where only pensioners with an income of less than a set amount qualify for it.

Give every qualifying pensioner the national living wage untaxed and none of the add on gimmicks like bus passes, free tv, etc etc.
Much simpler to manage I would guess.

Millionaires will have paid n qualified for it.

The concept is to plan early for a decent retirement. Even make a few sacrifices on the way.

Life's What you make it.

[Snowy]

That’s £49.83 a month, hardly living the high life is it….just seen a list from two years ago…in comparison then Ireland was paying 906 € a month and…
Spain …2287€
Belgium 2809€
Etc, etc, etc we really are poorly supported.

[Infidel]

I think everyone knows that the Triple Lock will have to be tweaked or altered, however this government won't do it as it will be political suicide and as Snowy says, if pensioners get a rise - well maybe it's needed as the price of things at present is ridiculous.

A £100 food shop now buys you very few Avocados and don't get me going on the price of Goat's cheese.

[PTID]

I'd say most people who can afford to save into a pension work on the understanding that it will supplement the State Pension so to means test punishes those prudent savers while rewarding those who didn't save a penny towards a pension.
We were told when we started work that our NI paid for the NHS and contributed to our State Pension entitlement. If that wasn't the case then an option out of NI or part of it should have been available.
She won't scrap the Triple Lock as that would be political suicide, but she will let the pension rise above the personal allowance and grab some pension back through tax. Still abhorrent but more widely acceptable to society I'd think.
Assisted dying will be quite a popular option to a retirement in poverty, and will probably become compulsory rather than optional before the turn of this century.

[Infidel]

I don't think the paying tax on state pension will happen either. I mean-what's the point? You might as well get less pension (which you will if it's taxed)

PTID, I do agree about the saving for your own pension. I've been self employed and put a little bit by, the plan was to use that to top up my state pension, maybe 3 or 4 grand a year up to my tax allowance, anyway by the time I get to this point the tax code will be bang on state pension level and I will have to pay tax! No firm has put in to my pot, only my money each month.

[MutleyRules]

There is growing momentum for the state pension to be changed in such a way so as not to impoverish potentially millions of people.
One way is to means test the pension.
There are millionaires for example getting it and removing it from them will cause very little hardship, if none at all.

A bit like the Winter Fuel Payment Allowance then.

[Snowy]

There is growing momentum for the state pension to be changed in such a way so as not to impoverish potentially millions of people.
One way is to means test the pension.
There are millionaires for example getting it and removing it from them will cause very little hardship, if none at all.

A bit like the Winter Fuel Payment Allowance then.

And that was as welcoming as waking up in a rats nest.

[derwent]

There is growing momentum for the state pension to be changed in such a way so as not to impoverish potentially millions of people.
One way is to means test the pension.
There are millionaires for example getting it and removing it from them will cause very little hardship, if none at all.

A bit like the Winter Fuel Payment Allowance then.

Well the u turn on the disastrous gung ho operation from the government over the removal of the WFA for around ten million of the country's elderly citizens has broadly been accepted but in no way forgotten by the public.
However if you analyse what has happened you will see that it has been capped in such a way that anybody with an income of over £36k will not get it.
The interesting thing about using £36k as the benchmark is it could be argued that the government are admitting that anybody earning less than £36k need the allowance, could it not.
Taking that to it's logical conclusion it starts to back up my suggestion that if the state pension was at a reasonable level there would be less or even no need to worry about starving and/or freezing elderly people struggling to make ends meet, or the need for supplementary benefits such as the WFA.
On a lighter note, if I had voted for this shower I would keep quiet about what happened to the WFA .
Something has to be done, so the more it's discussed the better.
I would further suggest that this becomes a cross party discussion within politics and, when sorted, backed by all of them. There's a great deal of wishful thinking attached to that suggestion but we have to start somewhere. It's not going away.

[accrington fan]

the problem with the state pension is like the family allowance for kids. not all need it but some need more. its a lot easier to means test the family allowance but not so much a pension unless you bring the amount in the bank into the question. if that did happen you can see now big withdrawels being made passing it on to family members once there is some talk about it.

[Jamie1952]

the problem with the state pension is like the family allowance for kids. not all need it but some need more. its a lot easier to means test the family allowance but not so much a pension unless you bring the amount in the bank into the question. if that did happen you can see now big withdrawels being made passing it on to family members once there is some talk about it.

The people who had private pensions company or otherwise could end up losing the State Pension.in Australia the pension is means tested and takes into account any assets you have including property.
Means testing might be ok but depending on the level of PP or savings you have, you could be ‘punished’ for all the years you saved for your retirement.

[Bluestreak]

Who says its unaffordable ? Does any member of the public have access to the complexities of UK Government finance? Is not Defence, NHS, social security etc etc unaffordable.
The state pension in the UK is poor for such a rich country.
Trying to tinker with the state pension will create winners and losers and will be a political disaster.
Try it again Rachel and you will get a backlash like WFA but bigger.

[PTID]

Exactly Jamie, many forgave luxuries to pay into a PP expecting a decent standard of living win retirement when combining with State Pension entitlement (as we were led to believe). Many of these are now living a comfortable life but will be brought into near poverty if the State Pension was taken away from them.
What also needs to be borne in mind is that the UK Welfare and Benefits bill overall is about £335bn with just under 1/3rd going to Pensioners, how much of the other 2/3rds is going to able people who've never contributed a penny and have no intention of ever doing so? When's the real clawback from the lazy and workshy b*stards who are robbing the country on a daily basis?
Attacking the children, the sick and disabled, the elderly was always more expected from Conservative Governments, never in anyone's wildest imagination would people expect it of Labour.

[Jamie1952]

Some one who has never worked and never paid N.I. Contributions providing they were registered in the system will receive the full State Pension and if they have no savings Pension Credit, help with their Council Tax etc..
If the government thins the basic State Pension is enough to live on why should these people receive top ups ?
People receive Pension Credit in the UK to supplement a low income and cover living costs once they reach State Pension age, surely that confirms that the State Pension isn’t enough to live on ?

[MutleyRules]

Isn't it below minimum wage?? If so it proves its not enough to live on.

[accrington fan]

Isn't it below minimum wage?? If so it proves its not enough to live on.

there is the problem. there is a big gap between the minimum wage paid out to what the minimum needed to live off which has another name. it galls me having to pay income tax on my pension but would be happy to pay more if VAT was scrapped on everything but real luxury items that are not needed just to live.

[Jamie1952]

Isn't it below minimum wage?? If so it proves its not enough to live on.

Aged 21 and over (National Living Wage): £12.21 per hour @ 40 hours, £25396.80 per annum.
Aged 18 to 20: £10.00 per hour @ 40 hours, £20800 per annum.
Under 18: £7.55 per hour @ 40 hours, £15704 per annum.
Apprentice: £7.55 per hour @ 40 hours, £15704 per annum.
Apprentices receive more than what the State Pension is !

[Snowy]

Good point Jamie….my first years apprentice wage in 69 was a fiver a week….and in my fourth and final year £15 a week… in 73.

[derwent]

Isn't it below minimum wage?? If so it proves its not enough to live on.

Exactly, which is my point. If you haven't got £36k income per annum then you qualify for the WFA benefit makes a brilliant case for making sure the elderly need £36k to get by, and by association so should the minimum wage earners to be fair. This is my whole point. Pay properly and then you can cut out out all the gimmicks.

[kevin pooles gloves]

Isn't it below minimum wage?? If so it proves its not enough to live on.

Aged 21 and over (National Living Wage): £12.21 per hour @ 40 hours, £25396.80 per annum.
Aged 18 to 20: £10.00 per hour @ 40 hours, £20800 per annum.
Under 18: £7.55 per hour @ 40 hours, £15704 per annum.
Apprentice: £7.55 per hour @ 40 hours, £15704 per annum.
Apprentices receive more than what the State Pension is !

Need to reduce them annum figures by 2.5 x 52 v hourly rate.
It's only 37.50 hours pay for about 20 years now even if ya work 40 hours..

Id recommend a major decrease in dole n a bit more in state pension but we now live in a fucked up country that governments priorities Boaties n lazy bastads.

[Jamie1952]

Isn't it below minimum wage?? If so it proves its not enough to live on.

Aged 21 and over (National Living Wage): £12.21 per hour @ 40 hours, £25396.80 per annum.
Aged 18 to 20: £10.00 per hour @ 40 hours, £20800 per annum.
Under 18: £7.55 per hour @ 40 hours, £15704 per annum.
Apprentice: £7.55 per hour @ 40 hours, £15704 per annum.
Apprentices receive more than what the State Pension is !

Need to reduce them annum figures by 2.5 x 52 v hourly rate.
It's only 37.50 hours pay for about 20 years now even if ya work 40 hours..

Id recommend a major decrease in dole n a bit more in state pension but we now live in a fucked up country that governments priorities Boaties n lazy bastads.

Ok KPG, just for you, Apprentice £7.55 x 37.5, £14722.50, an apprentice receives more than a pensioner does in Stare Pension, probably lives at home so a bit of ‘lodge’ to his parents, quids in.

[Snowy]

Isn't it below minimum wage?? If so it proves its not enough to live on.

Aged 21 and over (National Living Wage): £12.21 per hour @ 40 hours, £25396.80 per annum.
Aged 18 to 20: £10.00 per hour @ 40 hours, £20800 per annum.
Under 18: £7.55 per hour @ 40 hours, £15704 per annum.
Apprentice: £7.55 per hour @ 40 hours, £15704 per annum.
Apprentices receive more than what the State Pension is !

Need to reduce them annum figures by 2.5 x 52 v hourly rate.
It's only 37.50 hours pay for about 20 years now even if ya work 40 hours..

Id recommend a major decrease in dole n a bit more in state pension but we now live in a fucked up country that governments priorities Boaties n lazy bastads.

Ok KPG, just for you, Apprentice £7.55 x 37.5, £14722.50, an apprentice receives more than a pensioner does in Stare Pension, probably lives at home so a bit of ‘lodge’ to his parents, quids in.

Was always the case that apprentices were paid at low rates in the knowledge that they’ll reap the financial benefit when their apprenticeship is completed as a tradesman.
Though the word ‘apprenticeship’ is much abused by ignorant politicians of allParty’s and the media..

[accrington fan]

at least apprentices get some money. those going into higher education do not with no guarentee of getting a better job or more money in the end. same for a young pen pusher in the office at the bottom of the ladder who will eventually get promoted if they stick at it long enough and do a decent job.

[Bluestreak]

Do you need an apprenticeship to enter Parliament?
No........ which is why there are some nuggets in there.

[kevin pooles gloves]

Isn't it below minimum wage?? If so it proves its not enough to live on.

Aged 21 and over (National Living Wage): £12.21 per hour @ 40 hours, £25396.80 per annum.
Aged 18 to 20: £10.00 per hour @ 40 hours, £20800 per annum.
Under 18: £7.55 per hour @ 40 hours, £15704 per annum.
Apprentice: £7.55 per hour @ 40 hours, £15704 per annum.
Apprentices receive more than what the State Pension is !

Need to reduce them annum figures by 2.5 x 52 v hourly rate.
It's only 37.50 hours pay for about 20 years now even if ya work 40 hours..

Id recommend a major decrease in dole n a bit more in state pension but we now live in a fucked up country that governments priorities Boaties n lazy bastads.

Ok KPG, just for you, Apprentice £7.55 x 37.5, £14722.50, an apprentice receives more than a pensioner does in Stare Pension, probably lives at home so a bit of ‘lodge’ to his parents, quids in.

off

Of course someone working should be a lot better off.
But todays younger generation have almost no chance of getting a mortgage and forced into dead money rent.
Landlords paradise especially with the housing shortage.

Ya need to cut them a bit of slack and be grateful that mine n your generation had a better opportunity despite the brutal 80s.

The problem today is the majority of lazy fuckas abusing the governments generosity.

Lets see what this Autumn budget delivers eh.