Triple Lock Becomes Double Lock For 1 Year

cfw1994

Dale72 said:

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

I'm no fan of this government at all...but this strikes me as a daft response. 
Did anyone seriously think things wouldn't need to change after this crazy 18 months? 
 
Most opponents appear to think things don't go far enough.
Presumably you feel they should have kept the triple lock and not raise further funds to help pay for the pandemic?

pensionpawn

My wife is reducing her hours in October to 60% and is retiring a year later. I'm reducing my hours to 70% in April and plan to retire 20 ish months later. The majority of the burden (in my family) of this NI hike will fall on my three young adult daughters early in their careers. I intend to pay them the hike in their NI deductions from my salary / investments for as long as it's applied. We all know how long that will be.....

PS - Apologies, I've just realised that I've posted this in a triple lock thread having just been reading BBC HYS comments about the hike. 

Thrugelmir

Dale72 said:

2 election pledges gone in 1 day, 

Who actually cares. As who bothers to read manifestos anyway.  

Silvertabby

Thrugelmir said:

Dale72 said:

2 election pledges gone in 1 day, 

Who actually cares. As who bothers to read manifestos anyway.  

Both made before a world wide pandemic pulled the rug out from under us.  Common sense says that changes would have to be made - adapt and overcome.

Silvertabby

pensionpawn said:

My wife is reducing her hours in October to 60% and is retiring a year later. I'm reducing my hours to 70% in April and plan to retire 20 ish months later. The majority of the burden (in my family) of this NI hike will fall on my three young adult daughters early in their careers. I intend to pay them the hike in their NI deductions from my salary / investments for as long as it's applied. We all know how long that will be.....

PS - Apologies, I've just realised that I've posted this in a triple lock thread having just been reading BBC HYS comments about the hike. 

You must be so glad that the Government didn't cave in to the demands for the totally unrealistic State pension rise of 8.8%.  Your daughters would have been paying for that for years to come.

[Deleted User]

This has just illustrated that the pledge BS.  Remove low income jobs for a year and suddenly you have a jump in average salaries.  This pledge made no sense when it was first introduced under Blair/Brown and hasn’t stopped being nonsensical when repeated at a later date. 

Thrugelmir

Deleted_User said:

This has just illustrated that the pledge BS.  Remove low income jobs for a year and suddenly you have a jump in average salaries.  This pledge made no sense when it was first introduced under Blair/Brown and hasn’t stopped being nonsensical when repeated at a later date. 

Nothing wrong in principle with the Triple Lock. Provides a transparent non political method of annual increases. Perfectly reasonable that there are rails when exceptional circumstances arise.  

[Deleted User]

Thrugelmir said:

Deleted_User said:

This has just illustrated that the pledge BS.  Remove low income jobs for a year and suddenly you have a jump in average salaries.  This pledge made no sense when it was first introduced under Blair/Brown and hasn’t stopped being nonsensical when repeated at a later date. 

Provides a transparent non political method of annual increases. 

It only makes sense politically because older people vote a lot. If it was non-political, it would be linked to inflation. 

GunJack

Deleted_User said:

Thrugelmir said:

Deleted_User said:

This has just illustrated that the pledge BS.  Remove low income jobs for a year and suddenly you have a jump in average salaries.  This pledge made no sense when it was first introduced under Blair/Brown and hasn’t stopped being nonsensical when repeated at a later date. 

Provides a transparent non political method of annual increases. 

It only makes sense politically because older people vote a lot. If it was non-political, it would be linked to inflation. 

In the election Corbyn fought, actually more youngsters voted than pensioners...surprising, yes, but it happened..

pensionpawn

Silvertabby said:

pensionpawn said:

My wife is reducing her hours in October to 60% and is retiring a year later. I'm reducing my hours to 70% in April and plan to retire 20 ish months later. The majority of the burden (in my family) of this NI hike will fall on my three young adult daughters early in their careers. I intend to pay them the hike in their NI deductions from my salary / investments for as long as it's applied. We all know how long that will be.....

PS - Apologies, I've just realised that I've posted this in a triple lock thread having just been reading BBC HYS comments about the hike. 

You must be so glad that the Government didn't cave in to the demands for the totally unrealistic State pension rise of 8.8%.  Your daughters would have been paying for that for years to come.

I believe a 1 year suspension is justified given the extremely unique circumstances and yes the everyone below SPA pays for SP for everyone above it. Fortunately they've had good coaching wrt the value of personal pensions with my youngest starting her first pension at 17 with her supermarket jobs whilst in 6th form. Nothing in life is free....