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Triple lock

(186 Posts)
morethan2 Wed 26-Apr-17 13:50:32

I'm not sure if this should be on the political forum or not. I have just recently retired I just wondered what will happen if we loose the triple lock on our pensions. I'm not that sure what a triple lock is if I'm honest. I am hoping That someone will be able to enlighten me.

morethan2 Wed 26-Apr-17 23:08:40

I missed out on that Chewbacca by just 6 days. My birthday 31 march the change over to pensions happened on 6 April. Well that's what they told me on the gov call centre.

durhamjen Wed 26-Apr-17 23:05:54

It seems to be very important on all the news broadcasts and in tomorrow's papers.

Rigby46 Wed 26-Apr-17 23:00:45

How can anyone think the triple lock is fair? In 2007 a single persons basic pension was £87.30 a week now it's £122.30. That's an increase of 40% over the 10 years and an increase of £1820 per annum over the period.Meanwhile, many many public sector workers have had minimal pay increases. Why should pensioners be exempt from the impact of austerity? I'd get rid of WFA, bus pass, TV license etc and target extra help to pensioners through the pension credit system. That already exists and would surely be the cheapest most efficient way to give help where it is needed. It's messy doing it through the income tax system.

POGS Wed 26-Apr-17 22:50:36

whitewave Wed 26-Apr-17 19:11:33

'Gordon Brown introduced it for the reasons I have outlined - pensioner poverty - in 2006.'

He did not!

You get a few things wrong and I don't bother telling you but we have been here before on another a while ago if I remember correctly.

The Coalition Government introduced the Triple Lock in 2010.

durhamjen Wed 26-Apr-17 22:42:19

"It’s true that the basic state pension rose by 75p per week in one year of the last Labour government (between 1999 and 2000). But the natural comparison isn’t with the total annual rise under seven years of Conservative-led government. In fact, pensions rose by more under Labour, on average, once you take inflation into account.

In simple cash terms, the full basic state pension rose by £141 a year on average under Labour compared to £183 a year under the Coalition and Conservative governments.

But as we’ve noted when assessing Ms May’s headline figure in isolation, this takes no account of price inflation. When taking the natural rise in prices (as measured by the Consumer Prices Index) into account, we see a different story.

In real terms, the full basic state pension went from roughly £4,800 a year in April 1997 to £5,800 a year in April 2010. So, on average, every year of the Labour government saw an increase of £82 in real terms. The real value of that pension under the Conservatives went from £5,800 to £6,400—an average annual rise of £75 a year."

I think we still need the triple lock.

dbDB77 Wed 26-Apr-17 22:41:10

morethan - there's lots of financial advice out there for people facing income reduction in retirement - try the AgeUK website - but I'm sure there'll be others - perhaps even Gransnet.
On the triple lock debate - I do think that politicians underestimate the electorate - they think everyone votes selfishly for the party that will put more money in their pocket - hence the pensioner bribes - but I'd be content for the triple lock to be removed even though it would affect me - as I said before, I think it's unfair.

Chewbacca Wed 26-Apr-17 22:39:34

I thought that the basic state pension had gone up, in April 2016, morethan ? Must admit that I've not looked at gov't website for a while ever since I found out they'd bumped my retirement age back again.

morethan2 Wed 26-Apr-17 22:26:49

I asked the question because I wanted to ask about my financial future.I think I'm ok for now, well I certainly won't starve but Ive had my last payslip. So now I will get just under £140 a week and a small NHS pension(I'm not sure how much but I took the higher lump sum so it won't be much. The house is falling apart I want to update it.) my husband still works but if I had to live on my own I'm not sure I would manage. I'd hate to be in the position of not having enough to live on. Our council tax would be 3/4 of a weeks pension alone but then I suppose I'd get some sort of discount. Well I just better look after my husband a bit better and hope he outlives me. grin

Jalima1108 Wed 26-Apr-17 21:44:50

grin

Chewbacca Wed 26-Apr-17 21:39:02

Jalima, if you had a flying carpet, it would have so many passengers trying to cram on it that it would never get airborne!

Jalima1108 Wed 26-Apr-17 21:36:25

I must be too heavy for it to take off sad

Chewbacca Wed 26-Apr-17 21:34:30

grin could be useful Jalima! Personally, I think a flying carpet could be in great demand in the coming weeks, so you'd better hang on to it!

Jalima1108 Wed 26-Apr-17 21:32:43

sorry, nothing to do with triple lock!

Jalima1108 Wed 26-Apr-17 21:31:43

I have a new rug in the sitting room and found the DGC both sitting on it, in a lotus position and hummmmmming.
I asked if they were meditating and they said no, they were flying on the magic carpet grin

Chewbacca Wed 26-Apr-17 21:29:45

grin Jalima hummmmmm, love it!

Ana Wed 26-Apr-17 21:29:00

(they can't even wait for the official manifestos - just make up their own)

Ana Wed 26-Apr-17 21:27:52

And some posters do seem to be overly obsessed with speculation and telling us all what they think's going to happen and why...sigh!

How many more weeks of this have we got? confused

Jalima1108 Wed 26-Apr-17 21:24:35

A Mantra: a word or sound repeated to aid concentration in meditation

'hummmmmmm'

Jalima1108 Wed 26-Apr-17 21:22:12

It's been researched that remainers are much more pleasant people than Brexiteers.
As one of the much more pleasant people could you give a link to that research please durhamjen.
For personal use only, you understand.

If rosesarered wants to wait and see she can and she can say so, it's not rude, it's not personal and it's not against the rules.

Sometimes the best policy is to wait and see because getting annoyed and agitated about something that may never happen is really bad for stress levels.

Chewbacca Wed 26-Apr-17 21:02:08

^"I get fed up of being told to wait and see. ^"

Do you not see that other posters may get "fed up" with some of your posts too, Durham? But this is a forum where everybody is entitled to post their opinions, and that means that you, like others, just have to either put up with that, or move onto another thread/topic. But it's not on to personally attack another poster as having a "mantra". The same could be said of you perhaps?

rosesarered Wed 26-Apr-17 20:32:59

Still ploughing on.....as I said.hmm

durhamjen Wed 26-Apr-17 20:30:36

It's been researched that remainers are much more pleasant people than Brexiteers.
Chewbacca, you are being personal.

You are followed, roses? Ha ha ha ha ha......
Sorry, can't stop laughing.

rosesarered Wed 26-Apr-17 19:52:03

I usually ignore it Chewbacca but yes, I have noticed I am followed about from thread to thread with petulant and childish comments aimed at me.You would think posters had better things to do.

Chewbacca Wed 26-Apr-17 19:46:53

I'm not going to teach you how to be a more polite and pleasant poster Durham , I suspect you're old enough to know already. But sometimes, your passion for politics makes you post some rather unpleasant and personal attacks on posters that disagree with your particular outlook. And on this occasion, you've called into question, not just a particular post, but "every political thread" that Roses has posted on. That's bullying Durham.

rosesarered Wed 26-Apr-17 19:40:18

I don't think that durhamjen is very 'aware' chewbacca of what is acceptable
And what isn't, even when reminded she doesn't 'get it' and goes ploughing on.
If a poster doesn't agree with her very left wing views then dj gets personal.