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Triple Lock Becomes Double Lock For 1 Year

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Comments

  • pensionpawn
    pensionpawn Posts: 987 Forumite
    Sixth Anniversary 500 Posts Name Dropper
    edited 7 September 2021 at 8:02PM
    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
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 7 September 2021 at 8:25PM
    Dale72 said:
    2 election pledges gone in 1 day, 
    Who actually cares. As who bothers to read manifestos anyway.  


  • 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
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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.  
  • 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
    GunJack Posts: 11,714 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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..
    ......Gettin' There, Wherever There is......

    I have a dodgy "i" key, so ignore spelling errors due to "i" issues, ...I blame Apple :D
  • 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....
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