RPI to CPI Early Day Motion 1032

Interested_Taxpayer

I think you might be right MEY. However, the lawyers will take time to go over the judgement then a decision will be made whether a further appeal is worth pursuing.
At the end of the day, we may have to rely on the review of the CPI now and trust that the RSS and others make sure there is some fair play. I fear that the formula effect will be here to stay though and unless the legislation is altered then this and future Governments will be free to fiddle the indexation on pensions and social benefits at will.
What about future generations of pensioners? It is now likely they will have no trust and confidence in this system and will simply opt out with all the resultant problems that will bring.
Of course we will still be left with a two class pension system in the U.K.i.e. those linked to the CPI and those lucky enough to be hard wired to the RPI. This is so WRONG!

Interested_Taxpayer

Here is the link to the Prospect notice on the judgement. It includes a short radio 5 live interview this lunchtime.

http://www.prospect.org.uk/news/id/2012/00438

Ripoff_2

So we have now been betrayed yet again, the establishment has closed ranks but we still have the power, its in our hands to rally the people to VOTE, we have the vote WE MUST use it and the first chance many get is in the up coming local elections in MAY. We know this judgement is utter none sense, we know RIGHT is on our side but now WE need to fight via the ballot box, collectively we can make a difference but alone we all lose.

MAKE your vote count in the MAY election and roll on the GENERAL ELECTION when this BETRAYAL and your anger can be unleashed.

Until then the fight still goes on, keep up the pressure on your MP, keep this betrayal alive anyway you can, WE will not and MUST not let this matter drop. This is not the end of the war just a battle lost but together we can win, it will take time but with determination, pressure and resolve this WRONG can be put RIGHT.

You have to ask yourself one simple question "seeing the betrayal of their parents who did the right thing, paid their taxes, did their working years, believed in what they were told, Trusted the pension ethics" will the future youngsters ever trust, believe or be as honest as us?

You reap what you sow and the Gvmt have just destroyed the pension ethics forever.

I ask myself ? Would I pay into a pension today if I knew they would break the pension ethics like this and quite simply I don't believe I would, this gvmt has now created an even bigger ticking time bomb. Trust is very important why would any body still not claiming their pension ever believe or trust anything they are told over their pension,why would the young pay into a pension now? Maybe Steve Web and co need to think far deeper than they have done so far, NEST will not work people don't TRUST them anymore.

chris_m

Ripoff wrote: »

roll on the GENERAL ELECTION when this BETRAYAL and your anger can be unleashed.

You seriously think that any other flavour of government will reverse it? Dream on - Labour couldn't even be bothered to vote on the early day motion debate, let alone oppose it.

FLAPJACK

It seems as though todays ruling has gone hand in hand with the ONS decision earlier this week to rejig the contents of the "Basket" used to rate CPI and RPI.

The result being that RPI figures will be a lot closer to CPI anyway.....so we have all been stuffed.

It begs the question "At the next election is it WORTH VOTING??"

I think Cameron's ditty of "We are all in it together" should have read "YOU are all it in together".

As an aside and slightly off topic (but it demonstrates how the untouchables make themselves untouchable). I see today that the news has come out that Sir Bob Geldof (he of "Give us yer money" Live Aid) has two sizable properties in the UK bought through a off shore company so as to dodge tax...very charitable indeed!

It seems these are the times we live in.

MEY_3

"Flapjack" - It was ever thus except now they are so brazen they don't even bother concealing it.

viridens

I have not reached 65. My pocket has just been picked for a second time, as have those of all state pensioners. Once again, those who contributed to pre-crash prosperity have effectively seen pension terms and conditions re-written retrospectively to prop up an economy left damaged by the expert custodians to whom we entrusted our savings.

If there was any doubt, the budget changes make it even more clear that this government sees pensioners as a soft target.
It's a shame that they are probably correct. Present company excepted.

Ripoff_2

chris_m wrote: »

You seriously think that any other flavour of government will reverse it? Dream on - Labour couldn't even be bothered to vote on the early day motion debate, let alone oppose it.

Chris, I never said who to vote for I just said use your vote to send a message.....feel free to vote for anyone else. That said we also have to vote wisely it's up to the electorate to make that choice.

The three main political parties need a REAL shock and the local elections in MAY are our only chance before the next general election. Ideally in the local elections I would like the main political parties to lose big time, because that really will focus MP's minds and perhaps they will no longer treat us as fools.

There is nothing more focusing for an MP in fear of losing his seat. You can write letters, send emails, be told by experts that MP's are wrong but when the electorate puts your seat in doubt, then that is when MP's actually listen.

Its over to the electorate to now take action!

hugheskevi

It is looking like the next interesting political decision will be when a new CPI index including housing is developed, and I'd expect that is where lobbying will be directed toward given it seems that the CPI change is a done deal, at least for the next few years.

When the new index comes into existence, CPI will still exist for consistency with international indexes, RPI will still exist due to index linked gilt repayments, and the new third index will also exist.

Based on the court verdicts, it would seem all 3 would meet the requirements to measure the change in the general level of prices.

Which is chosen will be at the discretion of the Government of the day. The status-quo would be CPI, but if the Office for National Statistics were to clearly state that the new CPI measure including housing were the best measure of the change in the general level of prices, that along with a strong lobbying campaign may mean a Govt. coudl find it difficult not to use CPI-housing as their preferred measure of the change in the general level of prices.

Ripoff_2

It appears Osborne was not correct in his budget speech over Age Related allowances. Was this an error or deception or just a LIE? Reminds me of the CPI "Better measure of pensioner inflation" lie to me, they have form on this, they think we are fools.

"Chancellor in Budget speech: "Office of Tax Simplification recently highlighted [ARAs] as a particularly complicated feature of tax system" what the office really said http://www.hm-treasury.gov.uk/d/ots_review_of_pensioners_tax_060312.pdf

This is what the OTS actually said
4.8 We would stress again that the OTS has not reached any conclusions as to the best wayforward with age-related allowances, nor have we formulated detailed recommendations. However, we know that there is little support for leaving both the structure of the allowances and the way they are administered as they are.
4.9 Our recommendation at this stage is therefore that age-related allowances should be a high priority in the second stage of our review and that we would like to consider ways in which they could be simplified.

Would you TRUST this lot to use a CPI with housing even if the ONS said it's the correct one to use unless it was less than CPI or RPI, if it was more then would they ignore it, I believe they would. They have no morals and from what is being said about the Age Related Allowance which will cost anyone retiring at 65 after 7th April 2013 the sum of £259 per year in lost income (£10,500-£9205=£1295 which is now taxable at 20% gives the £295) which ever way you spin it.

This is worth a read http://www.telegraph.co.uk/finance/budget/9164107/Budget-2012-How-George-Osborne-fast-forwarded-his-granny-tax.html

also this from Faisal Islam Channel 4 news: http://blogs.channel4.com/faisal-islam-on-economics/osbornes-simple-granny-tax-alibi-gets-complicated/16444

Just discovered there is already an e-petition http://epetitions.direct.gov.uk/petitions/31767 but they are now discredited after the RPI to CPI so called debate. Mind you can't do any harm signing it I suppose.