Public sector pensions …if triple lock abandoned.

kuepper

Sneaky cowardly way to reveal the triple lock is gone through PM spokesman

https://www.bbc.co.uk/news/uk-politics-63303880

arnoldy

Moving forwards time to have everyone on the same pensions to avoid the current apartheid. New joiners on Private or Government jobs get Defined Contributions. NO reason for new people entering the workplace to be treated differently for pension.

kuepper

In  Local Govt Pension Scheme HM Treasury have a big say on increase https://gmpf.org.uk/members/Receiving-benefits/How-your-pension-keeps-pace-with-inflation

kuepper

arnoldy said:

Moving forwards time to have everyone on the same pensions to avoid the current apartheid. New joiners on Private or Government jobs get Defined Contributions. NO reason for new people entering the workplace to be treated differently for pension.

Couldn't agree more, current retirees under the scheme IDS introduced get more pension than me and don't have to have had  as many contributions

Ainsty

arnoldy said:

Moving forwards time to have everyone on the same pensions to avoid the current apartheid. New joiners on Private or Government jobs get Defined Contributions. NO reason for new people entering the workplace to be treated differently for pension.

High house prices, student loans, c**p pensions - how much more do you want to disadvantage young people? 

arnoldy

Ainsty said:

arnoldy said:

Moving forwards time to have everyone on the same pensions to avoid the current apartheid. New joiners on Private or Government jobs get Defined Contributions. NO reason for new people entering the workplace to be treated differently for pension.

High house prices, student loans, c**p pensions - how much more do you want to disadvantage young people? 

It is NOT fair that all our young people are treated unequally - why should those in private sector get different pension to public sector? Imagine if minimum wage was different in private and public sector but that's what the current pension position is - absolute scandal.

The intergenerational fairness thing is an important (and separate) discussion.

Ainsty

arnoldy said:

Ainsty said:

arnoldy said:

Moving forwards time to have everyone on the same pensions to avoid the current apartheid. New joiners on Private or Government jobs get Defined Contributions. NO reason for new people entering the workplace to be treated differently for pension.

High house prices, student loans, c**p pensions - how much more do you want to disadvantage young people? 

It is NOT fair that all our young people are treated unequally - why should those in private sector get different pension to public sector? Imagine if minimum wage was different in private and public sector but that's what the current pension position is - absolute scandal.

The intergenerational fairness thing is an important (and separate) discussion.

Why not suggest that everyone gets a DB pension? Why insists on a race to the bottom? You have been conditioned to accept poor quality pensions as being the only ones possible. This is not a law of nature, you have been conned and you have come to believe what you are told without questioning the situation.

Linton

kuepper said:

Sneaky cowardly way to reveal the triple lock is gone through PM spokesman

https://www.bbc.co.uk/news/uk-politics-63303880

If you read the piece you will see that she is not prepared to say anything about future pensions or anything else. I assume she will be told Jeremy Hunt’s decision in due course.

I can see that the 2.5% cap could go but that is irrelevant under current circumstances. I would be astonished if CPI linking is removed. Labour would be back in power at the next election with a massive majority with a promise to re-instate it . But I doubt it could get through both Houses of Parliament as it would split the Tory party.

arnoldy

Ainsty said:

Why not suggest that everyone gets a DB pension? Why insists on a race to the bottom? You have been conditioned to accept poor quality pensions as being the only ones possible. This is not a law of nature, you have been conned and you have come to believe what you are told without questioning the situation.

Because the private sector is competing against the rest of the world. They (rest of world) often have no pension costs whatsoever. We do have to live in a competitive and cutthroat global world to pay our way - like it or not. That means keeping costs and competitiveness where it needs to be.

ChocolateWombat

Linton. I think you are right.

This isn’t a question about whether all pensions should be the same or the rights and wrongs of different types.  It’s about whether public sector pensions being linked to CPI can be changed in a budget or not, plus if the government would actually do that.

I agree that it hasn’t been stated the triple lock on state pension  is actually being abandoned.  I agree it would be political suicide.