Hurrah! Pensions going up by 3%

capital0ne

Inflation is 3% so pensions are going up by 3% isn't that nice folks

Seriously inflation at 3% - whats all the fuss about? It's only 1% above the BoE's artificial threshold an I say 'so what!'.

Some of us remember inflation running at 18% a few years ago - now that was a tad of a worry, but we all got through it. Then of course your mortgage rate was north of 15% - I imagine many youngsters (anyone below 39 yrs old in my book) would be running home bawling their eyes out.

So everyone, just calm down, 3% inflation is nothing to worry about, it'l all change in a few years time and some of us have seen it all before.

Nick_C

I'm delighted that inflation is at 3%. It means state pensioners won't get an unjustified real terms increase this year!

Thrugelmir

Everyone's personal inflation rate is different. I'm sure the Chancellor won't mind the 3% rise. As will boost the Treasury's coffers next financial year.

whattochoose

I'm happy enough, I'll get a 3% increase on my State Pension, Civil Service and NHS pensions next year.

Thrugelmir

whattochoose wrote: »

I'm happy enough, I'll get a 3% increase on my State Pension, Civil Service and NHS pensions next year.

RPI is most likely running another 1% higher.

xylophone

RPI is most likely running another 1% higher.

Which goes to show that pensioners were quite cynically sold short when the RPI link was severed?

badmemory

Has anything actually only gone up by 3%? About the only thing I can think of is spirits. Unless you are one of the lucky ones whose fixed contract gas & elect hasn't expired.

bigadaj

xylophone wrote: »

Which goes to show that pensioners were quite cynically sold short when the RPI link was severed?

Do you want a quadruple lock?

brewerdave

badmemory wrote: »

Has anything actually only gone up by 3%? About the only thing I can think of is spirits. Unless you are one of the lucky ones whose fixed contract gas & elect hasn't expired.

As a pensioner with no mortgage, I keep an updated spreadsheet of my actual outgoings - over the last 12 months my personal rate of inflation is over 6% thanks to council tax,utilities and various insurance and car costs!!:(

Sun-Is-Fun

brewerdave wrote: »

As a pensioner with no mortgage, I keep an updated spreadsheet of my actual outgoings - over the last 12 months my personal rate of inflation is over 6% thanks to council tax,utilities and various insurance and car costs!!:(

I'm not a pensioner, but fully agree with you that things have gone up way more than 3%. House / car insurance has really increased, rip off council tax, phone / broadband and energy. :(:(

parcival

Have to disagree - my personal inflation rate is close to zero. As a retired person I have time to shop around. Car and household insurances are unchanged this year. Phone and Broadband is less due to haggling.
Also shop carefully for food as I know the prices of everything I need. Get wine on multibuys etc........
I would say that most sensible retired people have never been better off.