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  • FIRST POST
    • Former MSE Sam M
    • By Former MSE Sam M 2nd May 17, 1:21 PM
    • 238Posts
    • 159Thanks
    Former MSE Sam M
    MSE Poll: Should the state pension triple-lock guarantee end?
    • #1
    • 2nd May 17, 1:21 PM
    MSE Poll: Should the state pension triple-lock guarantee end? 2nd May 17 at 1:21 PM
    Poll started 2 May 2017

    Should the state pension triple-lock guarantee end?

    The UK state pension is currently guaranteed to rise in line with average wage growth, inflation or 2.5% - whicheverís highest. This Ďtriple-lockí was intended to align pensionersí incomes with others'. But thereís now an election debate over whether the 2.5% element should be removed.

    Those who want to lose it say pensionersí incomes are now aligned and, as long as they continue to rise in line with wages or inflation, the money could be better used elsewhere. But others say only the full triple-lock protects pensionersí incomes in the future.

    What's nearest your view?


    Did you vote? Are you surprised at the results so far? Have your say below. To see the results from last time, click here.

    If you havenít already, join the forum to reply. If you arenít sure how it all works, read our New to Forum? Intro Guide.

    Thanks!


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Page 1
    • Girlsmudda
    • By Girlsmudda 2nd May 17, 8:58 PM
    • 1 Posts
    • 0 Thanks
    Girlsmudda
    • #2
    • 2nd May 17, 8:58 PM
    • #2
    • 2nd May 17, 8:58 PM
    I'm almost at retirement age. We're always hearing by what percentage average salaries have risen (well my rises were never anywhere near that, so assume the lion's share must be in London). Anyway, why not use that average for pension increases? Sound fairer?
    • Devonian Rodders
    • By Devonian Rodders 3rd May 17, 7:16 AM
    • 76 Posts
    • 65 Thanks
    Devonian Rodders
    • #3
    • 3rd May 17, 7:16 AM
    Pensions Triple Lock.
    • #3
    • 3rd May 17, 7:16 AM
    I have just voted in this poll and could not fail to notice the majority of fellow voters over age 35 have voted to have the increases retained.
    Prior to the introduction of the triple lock, State pensions were set at the September inflation rate, which by some "coincidence" was always lower than at other times of the year.
    Throughout their working life, citizens are encouraged to save for their old age both in private pensioms or personal savings, yet when they reach retirement, the income pensioners receive is governed by the state of the stock markets.
    However, inflation continues to rise, driven by Council Tax, energy costs and various other increases passed on, but without the existing triple lock, pensioners are not protected and often have the stark choice of eat or heat !
    • Alter ego
    • By Alter ego 3rd May 17, 7:22 AM
    • 2,631 Posts
    • 2,608 Thanks
    Alter ego
    • #4
    • 3rd May 17, 7:22 AM
    • #4
    • 3rd May 17, 7:22 AM
    Everyone will be a pensioner one day. Think about it.
    Loose means not tight, Lose means something is lost, simples no?
    Ignore me if you like, it's not the real me anyway.
    • sara bande
    • By sara bande 3rd May 17, 7:50 AM
    • 11 Posts
    • 3 Thanks
    sara bande
    • #5
    • 3rd May 17, 7:50 AM
    • #5
    • 3rd May 17, 7:50 AM
    The triple lock is ageism. People should neither gain nor lose depending on age. It should depend on level of income and wealth.
    • lakesider52
    • By lakesider52 3rd May 17, 9:58 AM
    • 13 Posts
    • 10 Thanks
    lakesider52
    • #6
    • 3rd May 17, 9:58 AM
    Triple Lock
    • #6
    • 3rd May 17, 9:58 AM
    The state pension triple lock should remain in place for the simple reason that unlike people of working age, people of state pension age usually do not have the ability or flexibility ti increase their earning power.
    • kathrynha
    • By kathrynha 3rd May 17, 10:06 AM
    • 2,361 Posts
    • 12,885 Thanks
    kathrynha
    • #7
    • 3rd May 17, 10:06 AM
    • #7
    • 3rd May 17, 10:06 AM
    Would like to see public sector jobs (especially the lower end ones) have a triple lock too.


    This raise should be the maximum increase MPs are allowed too.
    Weight loss start date: 3rd January 2017
    Weight loss total: 49 lb
    Last updated: 27th November 2018
    • Lorian
    • By Lorian 3rd May 17, 10:12 AM
    • 4,808 Posts
    • 2,799 Thanks
    Lorian
    • #8
    • 3rd May 17, 10:12 AM
    • #8
    • 3rd May 17, 10:12 AM
    Who has the most to gain from keeping the tripple lock - someone aged 55 or someone aged 25....
    • alggomas
    • By alggomas 3rd May 17, 10:13 AM
    • 147 Posts
    • 49 Thanks
    alggomas
    • #9
    • 3rd May 17, 10:13 AM
    Triple lock government pensions.
    • #9
    • 3rd May 17, 10:13 AM
    The problem with any government is they pay everyone regardless of their income or wealth.
    The same applies to the heating allowance for pensioners.
    I believe that the triple lock and any type of benefits like above. should be allocated to the poor pensioners in this country.
    So, triple lock should not apply to wealthy pensioners with incomes above say £50,000 a year. Also heating allowance should not be given.
    True, this may be expensive to set up initially but will be fairer.
    • LesD
    • By LesD 3rd May 17, 2:08 PM
    • 2,060 Posts
    • 669 Thanks
    LesD
    Why no discussion on the fact that 'price inflation' for pensioners is a lot more than for younger people?

    Pensioners expenses fall into the utilities and energy categories and they do not get the offset of cheaper technology items.
    • KathyH
    • By KathyH 3rd May 17, 2:49 PM
    • 1 Posts
    • 5 Thanks
    KathyH
    It'd be very unfair to 'ditch' the triple lock. We're in our late 7O's and mostly housebound - which means that the heating is on most of the time during the day. We're not kept warm at an employer's expense - and can't ever JUST wear a T shirt. My husband was in the services for much of his life - no pension from that at that time sadly. Most bases were away from towns so I wasn't able to work bringing up a family. At that time there was no family allowance for the first child either... I can only claim pension on my husbands contributions which amounts to just over £200 per month. My increase will be just over 40p. per week (2.5%). We don't get any 'extra' help either so it's important to have at least a decent cost of living rise... can't afford mobile phones either! Not ALL pensioners are well off!
    • Redknapps Dog
    • By Redknapps Dog 3rd May 17, 2:51 PM
    • 1,533 Posts
    • 3,630 Thanks
    Redknapps Dog
    Why no discussion on the fact that 'price inflation' for pensioners is a lot more than for younger people?

    Pensioners expenses fall into the utilities and energy categories and they do not get the offset of cheaper technology items.
    Originally posted by LesD
    Pensioners accommodation costs are by and large a lot cheaper. Most own their homes outright.
    • happyinflorida
    • By happyinflorida 3rd May 17, 6:07 PM
    • 779 Posts
    • 668 Thanks
    happyinflorida
    This is the most inefficient government in British history.

    In 2015, More than half of households in Britain receive more in benefits and benefits-in-kind than they pay in taxes.

    There are still an abundance of people getting money from the government that they don't deserve and the government needs to cut the pork out of the welfare budget to find more savings instead of beating the war drums to raise taxes yet again on the working overtaxed class.
    Originally posted by dastep
    Not a Daily Mail reader are you? Watched all the biased shows on TV, think that all people on benefits are like this?

    Please be aware that thousands have died after having their benefits unfairly stopped - many of these people were suffering from mental health problems and simply didn't know where to turn for help and committed suicide.

    Not that the conservatives or lib dems who voted for these cuts, care at all.

    Also we have the media hiding the information on how much tax isn't being paid by the big companies like Amazon who are, of course, tory party cash donors - so the tax loop holes will remain open whilst the cons/lib dems are in power.

    The total unemployment bill for 2014 was £3Billion - Starbucks unpaid tax bill for this year was £4Billion - now see where the problem really lies?

    People are being misled and we are being turned against one another - this is another deliberate ploy by the elite. Whilst we fight one another, we aren't fighting against them.

    Now set your sights on the real demons in life, the government and the big companies who are causing the enormous debt this country is really in.

    Corbyn will close the tax loop holes - that's why he's got my vote.
    • OnwardChristian
    • By OnwardChristian 3rd May 17, 6:28 PM
    • 1 Posts
    • 0 Thanks
    OnwardChristian
    The triple lock should be maintained because the vast majority of us pensioners are living only day to day and struggle to pay all the bills after heating, lighting, rates and water, etc, are paid. We have to use heating all day in the cold weather as we are house bound and not at work using the employers heating! Any money left over goes on food and the occasional cup of coffee out, so what we receive goes straight back into the economy! I worked and paid taxes for 44 years to get a lower pension than is now being paid to people who only have to work 30 years to get the new higher pension, perhaps there should be no triple lock on the new state pension, but maintain it on the old one. The Tory government sold out millions of pensioners on the old state pension when they introduced the new rules - work less for more - and then began a concerted campaign to blame us for their own and the bankers's failings.
    • newatc
    • By newatc 3rd May 17, 6:57 PM
    • 437 Posts
    • 550 Thanks
    newatc
    They should only use the double lock (average earnings and inflation) but extend that mechanism to pension credit so those in most need get some benefit.

    Ultimately I would love to see the pension rise so that there is no means testing for seniors but that might be some time off given we now nearly 10 years after the financial crash and progress has been so slow,
    • jsknight100
    • By jsknight100 3rd May 17, 8:28 PM
    • 26 Posts
    • 17 Thanks
    jsknight100
    How expensive is the triple lock?
    Some people want to remove the triple lock because they claim it is to expensive & there are a lot of rich pensioners who don't need the triple lock. The net cost of state pensions is far lower that the stated cost because richer pensioners pay 40% tax which is returned straight to the government in the same way basic rate taxpayers are returning 20% to the Government.
    • Gavin83
    • By Gavin83 3rd May 17, 8:43 PM
    • 6,078 Posts
    • 10,412 Thanks
    Gavin83
    Everyone will be a pensioner one day. Think about it.
    Originally posted by Alter ego
    I very much expect that by the time I'm a pensioner there won't even be a state pension, let alone a triple lock. It doesn't surprise me in the slightest that the older you are the more in favour of it you are.
    • satchef1
    • By satchef1 4th May 17, 10:39 AM
    • 113 Posts
    • 69 Thanks
    satchef1
    Some people want to remove the triple lock because they claim it is to expensive & there are a lot of rich pensioners who don't need the triple lock. The net cost of state pensions is far lower that the stated cost because richer pensioners pay 40% tax which is returned straight to the government in the same way basic rate taxpayers are returning 20% to the Government.
    Originally posted by jsknight100
    The 2.5% clause in the triple lock was intended to ensure that, in most years, the state pension would grow faster than either wages or inflation. The reason for this clause was simple; the old system had failed to ensure that pensions kept pace. Pensions had fallen behind earnings and it was important that they caught up.

    When considering whether or not the triple lock should be scrapped, the question is actually quite simple; have pensions now caught up with earnings? If the answer is yes, then the double lock is more than sufficient to ensure they do not fall behind again.

    The debate isn't about making pensioners poorer. It's about finding an acceptable value for the state pension and maintaining it. With the double lock, if inflation is higher than the increase in wages then the pension will rise in line with inflation (while the working population effectively becomes poorer). If wages rise faster than inflation, the state pension will rise in line with wages, ensuring that pensioners become better off in line with everyone else. I fail to see that as unfair.

    Ultimately, the wrong question is being asked. The important one is; does the state pension now provide an acceptable standard of living? If it does, the triple lock has outlived its purpose. If it doesn't, the triple lock may be needed for a few years yet. But ultimately, it will be scrapped and it should be scrapped. It's a question of when, not if.
    Last edited by satchef1; 04-05-2017 at 10:53 AM.
    • lancelot13
    • By lancelot13 4th May 17, 4:43 PM
    • 1 Posts
    • 0 Thanks
    lancelot13
    Whilst I'm in no position to know exactly what your income is, you imply that you get no extra help whatsoever. There are several benefits which you may be able to claim & if you are not doing so at this time may I suggest that you contact your nearest Citizen's Advice Bureau. Their advice is free & they will complete the paperwork for you. They will even come to your house if you are unable, by ill health, to get to them. I presume that you have a computer or access to 1 as you have posted on this site so please also look at the gov.uk site which lists all benefits which you may be able to claim - that is if your income &/or savings are below the limits quoted. However, if your income is that low, I cannot see why you are not getting Pension Credit, Winter Heating Allowance (£300 I believe for some-one of your age) Council Tax relief, Housing Allowance or Mortgage Relief if you have one & if not, like many pensioners, then you are very lucky as you should have no other major housing costs unlike the working population or worse still, those people who are forced to live on declining benefits, either, like my wife & myself, by health or the lack of available employment caused by government under funding (not everywhere has an abundance of jobs up for grabs) & also have to rely on food banks. The only Triple Lock they get is a downwards one ! I could go on & on but hopefully you will have got the gist. If all else fails rest assured that government will not totally abandon you & at least you will end up with a Double Lock. The Tories wouldn't risk losing the votes of millions of you !
    • pauli-fiel
    • By pauli-fiel 4th May 17, 4:56 PM
    • 1 Posts
    • 0 Thanks
    pauli-fiel
    pauli-fiel
    It is all well and good having the triple lock but pensioners like myself do not get 2.5% rise as the guaranteed pension credit does not increase by 2.5% so whilst our pension goes up 2.5% we lose some of it off of our guaranteed pension credit.
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