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Triple lock

(185 Posts)
M0nica Wed 26-Apr-17 15:39:25

Our concern should be not whether the triple lock goes or not, but if it does, what will replace it.

I think the triple lock should go. Over the last 10 years the state pension has increased by over £1,700 a year while average wages have fallen by over £750. I, for one, am not comfortable that we were protected from the worst of the recession while everybody else, including our children, were seeing their incomes fall.

I think the pension should be tied to average wages and if average wages fall, so should state pensions. The Pension credit will ensure that in that situation poorest pensioners will not suffer.

Ana Wed 26-Apr-17 15:25:55

No, I'm not betting - but neither am I saying categorically that 'T May will take this away during the next parliament' as you did. Do you have a crystal ball whitewave?

rosesarered Wed 26-Apr-17 15:22:18

That was the last one! T May is now PM, and here is an all new GE.

whitewave Wed 26-Apr-17 15:19:48

The last Tory government did rose

rosesarered Wed 26-Apr-17 15:18:58

We will have to wait and see, it may stay as it is until the next election.It is rather nice to have it, but we can't expect to keep it forever.All the political parties can't swear that they will keep it.

whitewave Wed 26-Apr-17 15:18:56

Would you care to bet on it ana? When asked directly she refused to reply. If she intended to keep it she would have answered in the affirmative as it is a vote catcher.

Ana Wed 26-Apr-17 15:11:06

Theresa May has not said whether she will or will not 'take away' the triple lock on state pensions.

Do get your facts right, whitewave.

whitewave Wed 26-Apr-17 14:03:36

Oh I should have proof read - so the idea is for the pension to gradually recover its value.

whitewave Wed 26-Apr-17 14:01:17

The triple lock was introduced in 2006, in order to ensure that year on year the state pension would at best keep up with inflation, and hopefully gradually reducing over it original value. The government at the time was concerned at the poverty amongst the retired population.

So it means that the state pension will rise by wage inflation, the price index or 2.5% which ever is greatest

May will take this away during the next Parliament. Which means that the state pension will once again be subject to the vagaries of the government.

The question you have to ask yourself is do you trust this or any government to ensure that the state pension does not slip back to poverty levels.

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.