Triple Lock Becomes Double Lock For 1 Year

nigelbb

michaels said:

nigelbb said:

pip895 said:

It would have been ridiculous not to have made an exception.   Inflation looks like it will still give pensioners a decent rise..

Matching inflation is not a rise at all.

It is 4% more of not a rise than I will get on my salary and slightly more of not a rise than nurses and NHS staff will get.  Btu we are obviously less deserving.

Did your employer promise you a guaranteed pay rise but then renege on the promise?

whattochoose

Found this interesting.....
https://www.manchestereveningnews.co.uk/news/uk-news/state-pension-runs-out-millions-21454973

cfw1994

nigelbb said:

michaels said:

nigelbb said:

pip895 said:

It would have been ridiculous not to have made an exception.   Inflation looks like it will still give pensioners a decent rise..

Matching inflation is not a rise at all.

It is 4% more of not a rise than I will get on my salary and slightly more of not a rise than nurses and NHS staff will get.  Btu we are obviously less deserving.

Did your employer promise you a guaranteed pay rise but then renege on the promise?

What: forever, through the utterly unforeseen circumstances we have experienced?
This decision sounds eminently sensible to me.

MSE_Petar

Hi everyone,

We've just published a news story about this which you can read at the link below:

State pension 'triple lock' suspended for a year

Many thanks,
MSE Petar

badmemory

Anyone actually think it will still exist next year as a triple lock?

[Deleted User]

whattochoose said:

Found this interesting.....
https://www.manchestereveningnews.co.uk/news/uk-news/state-pension-runs-out-millions-21454973

Ridiculous way of looking at it.  Many retirees have multiple sources of income. Therefore “average” amount retirees spend will always exceed state pension. The only way to remove this “gap” is to confiscate other sources of income. 

Thrugelmir

badmemory said:

Anyone actually think it will still exist next year as a triple lock?

Why not. Pandemics fortunately aren't regular events. 

Dale72

2 election pledges gone in 1 day, can this government get any more useless?  Yes would be my guess.

MX5huggy

Thrugelmir said:

MX5huggy said:

They got one thing right today then.

What will this cost me on my SP to be taken in 2050?

The pandemic is far from over in economic terms. I'd be more concerned as to how the ongoing bill is going to be funded first. Tax raising measures are a certainty. 

I’m not concerned I wanted a mathematical answer, if the increase is 3% instead of 8% this year with compounding how much less will the pension be in 2050? 

xylophone

can this government get any more useless? 

Is the Pope a Catholic?