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 Pension triple lock
Topic Originator: Buspasspar  
Date:   Wed 17 Jun 19:24


I wondered how long it would take them


Rishi Sunak is preparing to break the Conservative party triple lock state pension pledge, amid Treasury fears that the policy could soon become unaffordable because of the fallout from the coronavirus crisis.

Mr Sunak has been warned that unless he breaks the pledge next year, the value of the state pension could rise sharply. The triple lock ensures the state pension goes up by whichever is higher wages, inflation or 2.5 per cent.

Now then Mrs if you add up all the pension money the WASPI women did not get and Sadly all those over pension age who have passed away RIP due to the Covid 19 virus .. Mr. Sunak has ample funds... Also bear in mind that auld codgers like me who worked aw their life are still paid one of the lowest pensions
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 Re: Pension triple lock
Topic Originator: LochgellyAlbert  
Date:   Wed 17 Jun 20:02

We're like a duck shoot, roll on July!
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 Re: Pension triple lock
Topic Originator: EEP  
Date:   Wed 17 Jun 22:29

At least u are getting some money😳
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 Re: Pension triple lock
Topic Originator: jake89  
Date:   Wed 17 Jun 23:57

Ah, but isn't Johnson a character?
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 Re: Pension triple lock
Topic Originator: LochgellyAlbert  
Date:   Thu 18 Jun 00:15

Quote:

EEP, Wed 17 Jun 22:29

At least u are getting some money😳


Yeah "some " sums it up!🤔😡😡😡
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 Re: Pension triple lock
Topic Originator: Buspasspar  
Date:   Thu 18 Jun 10:25

Quote :-
Topic Originator: EEP like | nolike
Date: Wed 17 Jun 22:29

At least u are getting some money😳


Aye there is that side to it well EEP My wife and I have spoken about that a lot lately Life has not changed dramatically for us but we feel so sorry for all the poor souls who will not have a job when all this is over
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 Re: Pension triple lock
Topic Originator: wee eck  
Date:   Thu 18 Jun 11:19

They've got to pay for tarting up the PM's jet somehow.
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 Re: Pension triple lock
Topic Originator: Buspasspar  
Date:   Thu 18 Jun 13:57

Aye and the dent in his car widtink :)
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 Re: Pension triple lock
Topic Originator: londonparsfan  
Date:   Thu 18 Jun 14:15

Estimates have the cost of the tripple lock at £6bn.

Coincidentally corporation tax cuts have an estimated cost of...

https://www.theguardian.com/politics/2019/jan/28/uk-corporation-tax-cut-to-cost-billions-more-than-thought
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 Re: Pension triple lock
Topic Originator: Buspasspar  
Date:   Thu 18 Jun 16:51

You could not make it up lpf :(
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 Re: Pension triple lock
Topic Originator: Berkey  
Date:   Sat 20 Jun 11:42

I thought they were just not sticking to the triple lock because of the way it’s calculated meaning the % rise would end up being huge due to the massive dip then pick up following this pandemic?

Im all in favour of removing the triple lock guarantee, the over 60’s have the highest percentage of voter turnout so policies are more often than not beneficial to them, when everyone else is getting shafted by 10 years of Tory austerity, why should they be sheltered when they continue to vote for them.

Just sitting here drenched in my own negativity!
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 Re: Pension triple lock
Topic Originator: wee eck  
Date:   Sat 20 Jun 11:50

Not all over 60s vote Tory.
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 Re: Pension triple lock
Topic Originator: Buspasspar  
Date:   Sat 20 Jun 12:01

Berkey its over 65 and rising your talking about many who worked all their lives. helped to build and fought for their Country If you seriously think £650 a month with a yearly rise of around £14 which could rocket to £20 woo woo is being sheltered then you are wrong Also I've never voted Tory in my puff
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 Re: Pension triple lock
Topic Originator: jake89  
Date:   Sat 20 Jun 12:03

Hasn't every generation fought for their country? And why is that even relevant? Surely it should be that they CONTRIBUTED to this country?
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 Re: Pension triple lock
Topic Originator: The One Who Knocks  
Date:   Sat 20 Jun 12:06

It's an annual rise of over 300 quid for this year Buspass. Not stating an opinion on this by the way just making a correction.

There's battle lines being drawn Nobody's right if everybody is wrong.
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 Re: Pension triple lock
Topic Originator: Andrew283  
Date:   Sat 20 Jun 13:20

My generation will be lucky to even see a pension...
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 Re: Pension triple lock
Topic Originator: Buspasspar  
Date:   Sat 20 Jun 14:17

jake89 ...sorry i did not know you are an ex soldier.. I think its relevant ..Helping to build the Country is another way of saying contributing
Towk ...sorry my bad I meant monthly rise which would be £25/month for the biggest pensions but less for people on the minimum pension
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 Re: Pension triple lock
Topic Originator: jake89  
Date:   Sat 20 Jun 14:28

My point was it does NOT matter, buspasspar. Every-single-generation has fought for this country. Everyone should be entitled to a pension they can live on when they reach that pensionable age.
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 Re: Pension triple lock
Topic Originator: LochgellyAlbert  
Date:   Sat 20 Jun 14:36

If you have a work pension your state pension is reduced, double whammy!!
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 Re: Pension triple lock
Topic Originator: Buspasspar  
Date:   Sat 20 Jun 15:30

I can't argue with that jake89
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 Re: Pension triple lock
Topic Originator: wee eck  
Date:   Sat 20 Jun 16:21

Speaking as an OAP, I think it would be farcical if we got a disproportionate increase just because the average wage had been artificially reduced by the job retention scheme during the coronavirus crisis.
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 Re: Pension triple lock
Topic Originator: londonparsfan  
Date:   Sat 20 Jun 16:52

Quote:

Berkey, Sat 20 Jun 11:42

I thought they were just not sticking to the triple lock because of the way it’s calculated meaning the % rise would end up being huge due to the massive dip then pick up following this pandemic?

Im all in favour of removing the triple lock guarantee, the over 60’s have the highest percentage of voter turnout so policies are more often than not beneficial to them, when everyone else is getting shafted by 10 years of Tory austerity, why should they be sheltered when they continue to vote for them.


The tripple lock protects your future pension value as well. In fact it protects everyones future pension value irrespective of who they voted for. The tripple lock was designed to try and increase the value of the UK pension as it was crap. It has worked to a degree but the pensions are still comparatively poor compare to a lot of other countries in the EU.

The Government have made a complete @rse of handling the virus and could have kept more of the economy active if they had prepared properly with travel restrictions and track and trace systems that worked and would have allowed targeted lockdowns rather than the last ditch lock down on everyone that could work from home.

Pensioners and us as future pensioners shouldn't be taking the hit for the bill for the coronavirus when the Government have slashed corporation tax and have also just put another £100 billion into quantitative easing that disproportionately advantages rich people with assets whose value is propped up by the measure.
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 Re: Pension triple lock
Topic Originator: Buspasspar  
Date:   Sat 20 Jun 17:11

Agreed LPF add in the money not paid out to the waspi women... the money they are not paying out due to all the poor souls who passed because of the virus which at a very rough estimate would be £450 million/year The money they stole and are still stealing from the miners ......Oh aye and quite a coincidence that the corporation tax cut deficit is just about the same figure they are saving from ending the triple lock as you already pointed out ........It stinks



Post Edited (Sat 20 Jun 17:15)
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 Re: Pension triple lock
Topic Originator: MikeyLeonard  
Date:   Sat 20 Jun 19:40

Quote:

LochgellyAlbert, Sat 20 Jun 14:36

If you have a work pension your state pension is reduced, double whammy!!


Really ?
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 Re: Pension triple lock
Topic Originator: moviescot  
Date:   Sun 21 Jun 02:20

Quote:

MikeyLeonard, Sat 20 Jun 19:40

Quote:

LochgellyAlbert, Sat 20 Jun 14:36

If you have a work pension your state pension is reduced, double whammy!!


Really ?


No. That is not correct.

Your State Pension is based on your National Insurance contribution history, and is separate from any of your private pensions. Any money in or taken from your pension pot may affect your entitlement to some benefits.
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 Re: Pension triple lock
Topic Originator: Blackandwhiteblood  
Date:   Sun 21 Jun 07:57

Quote:

moviescot, Sun 21 Jun 02:20

Quote:

MikeyLeonard, Sat 20 Jun 19:40

Quote:

LochgellyAlbert, Sat 20 Jun 14:36

If you have a work pension your state pension is reduced, double whammy!!


Really ?


No. That is not correct.

Your State Pension is based on your National Insurance contribution history, and is separate from any of your private pensions. Any money in or taken from your pension pot may affect your entitlement to some benefits.


State pension is added to any other earned income and is taxed.
In a way it is a double whammy.
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 Re: Pension triple lock
Topic Originator: sintv  
Date:   Sun 21 Jun 09:11

Last month my personal pension was reduced. Apparently my tax was taken off at source
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 Re: Pension triple lock
Topic Originator: wee eck  
Date:   Sun 21 Jun 09:51

If you have a personal pension as well as the state pension, tax on your combined income will be collected by deduction from your personal pension by applying your PAYE code against that income. Typically, an increase in the state pension would represent a 'negative' tax allowance which would reduce your PAYE code and reduce your personal pension by the amount of tax due on the increase in your state pension. Your combined net income would increase by the amount of the increase in the state pension after tax.
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 Re: Pension triple lock
Topic Originator: LochgellyAlbert  
Date:   Sun 21 Jun 11:38

Quote:

MikeyLeonard, Sat 20 Jun 19:40

Quote:

LochgellyAlbert, Sat 20 Jun 14:36

If you have a work pension your state pension is reduced, double whammy!!


Really ?


Depends on your payments into your work pension and whether you pay reduced National Insurance. Your Work Pension administrator should be able to advise, the whole system is a minefield!🤔
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 Re: Pension triple lock
Topic Originator: veteraneastender  
Date:   Sun 21 Jun 13:05

"State pension is added to any other earned income and is taxed.
In a way it is a double whammy."

Is it - I've always thought that state pension is just a. n. other source of earned income liable to be taxed ?
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 Re: Pension triple lock
Topic Originator: LochgellyAlbert  
Date:   Sun 21 Jun 14:13

Any tax comes off the private pension!

E.g. private pension 10K plus state pension 8K (approx) you are over the threshold, therefore tax taken off private pension.

A mate of mine who has just taken redundancy from the Dockyard gets £200+pw State Pension plus Dockyard pension.
Cannot figure out that one?🤔

Post Edited (Sun 21 Jun 14:19)
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