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MSE Poll: Should the state pension triple-lock guarantee end?

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MSE Poll: Should the state pension triple-lock guarantee end?

edited 30 November -1 at 1:00AM in Money Saving Polls
28 replies 12.4K views
Former_MSE_Sam_MFormer_MSE_Sam_M MSE Staff
346 posts
MSE Staff
edited 30 November -1 at 1:00AM in Money Saving Polls
Poll started 2 May 2017

Should the state pension triple-lock guarantee end?

The UK state pension is currently guaranteed to rise in line with average wage growth, inflation or 2.5% - whichever’s highest. This ‘triple-lock’ was intended to align pensioners’ incomes with others'. But there’s now an election debate over whether the 2.5% element should be removed.

Those who want to lose it say pensioners’ incomes are now aligned and, as long as they continue to rise in line with wages or inflation, the money could be better used elsewhere. But others say only the full triple-lock protects pensioners’ incomes in the future.

What's nearest your view?

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Replies

  • GirlsmuddaGirlsmudda Forumite
    1 posts
    I'm almost at retirement age. We're always hearing by what percentage average salaries have risen (well my rises were never anywhere near that, so assume the lion's share must be in London). Anyway, why not use that average for pension increases? Sound fairer?
  • Devonian_RoddersDevonian_Rodders Forumite
    81 posts
    Tenth Anniversary 10 Posts Combo Breaker
    I have just voted in this poll and could not fail to notice the majority of fellow voters over age 35 have voted to have the increases retained.
    Prior to the introduction of the triple lock, State pensions were set at the September inflation rate, which by some "coincidence" was always lower than at other times of the year.
    Throughout their working life, citizens are encouraged to save for their old age both in private pensioms or personal savings, yet when they reach retirement, the income pensioners receive is governed by the state of the stock markets.
    However, inflation continues to rise, driven by Council Tax, energy costs and various other increases passed on, but without the existing triple lock, pensioners are not protected and often have the stark choice of eat or heat !
  • Alter_egoAlter_ego Forumite
    2.9K posts
    Part of the Furniture 1,000 Posts
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    Everyone will be a pensioner one day. Think about it.
    Loose means not tight, Lose means something is lost, simples no?
    Ignore me if you like, it's not the real me anyway.
  • sara_bandesara_bande Forumite
    11 posts
    The triple lock is ageism. People should neither gain nor lose depending on age. It should depend on level of income and wealth.
  • lakesider52lakesider52 Forumite
    17 posts
    Fourth Anniversary 10 Posts
    The state pension triple lock should remain in place for the simple reason that unlike people of working age, people of state pension age usually do not have the ability or flexibility ti increase their earning power.
  • kathrynhakathrynha Forumite
    2.5K posts
    Seventh Anniversary 1,000 Posts Combo Breaker Car Insurance Carver!
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    Would like to see public sector jobs (especially the lower end ones) have a triple lock too.


    This raise should be the maximum increase MPs are allowed too.
    Zebras rock
  • LorianLorian Forumite
    5.1K posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
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    Who has the most to gain from keeping the tripple lock - someone aged 55 or someone aged 25....
  • alggomasalggomas Forumite
    148 posts
    Part of the Furniture Combo Breaker
    The problem with any government is they pay everyone regardless of their income or wealth.
    The same applies to the heating allowance for pensioners.
    I believe that the triple lock and any type of benefits like above. should be allocated to the poor pensioners in this country.
    So, triple lock should not apply to wealthy pensioners with incomes above say £50,000 a year. Also heating allowance should not be given.
    True, this may be expensive to set up initially but will be fairer.
  • LesDLesD Forumite
    2.1K posts
    Part of the Furniture 1,000 Posts Combo Breaker
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    Why no discussion on the fact that 'price inflation' for pensioners is a lot more than for younger people?

    Pensioners expenses fall into the utilities and energy categories and they do not get the offset of cheaper technology items.
  • KathyH_2KathyH_2 Forumite
    1 posts
    It'd be very unfair to 'ditch' the triple lock. We're in our late 7O's and mostly housebound - which means that the heating is on most of the time during the day. We're not kept warm at an employer's expense - and can't ever JUST wear a T shirt. My husband was in the services for much of his life - no pension from that at that time sadly. Most bases were away from towns so I wasn't able to work bringing up a family. At that time there was no family allowance for the first child either... I can only claim pension on my husbands contributions which amounts to just over £200 per month. My increase will be just over 40p. per week (2.5%). We don't get any 'extra' help either so it's important to have at least a decent cost of living rise... can't afford mobile phones either! Not ALL pensioners are well off!
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