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Another lock down?

(32 Posts)
GabriellaG54 Thu 14-May-20 21:07:05

What do we think of our Government in general and Rishi Sunak in particular, seriously considering removing the state pension triple lock instead of raising taxes.

Have you already started or decided to make a start on shoring up your finances should this happen?
What might you need to do?

GabriellaG54 Thu 14-May-20 23:11:04

You can still get it if you live in Switzerland if you have worked here or have family here. Weird.

GabriellaG54 Thu 14-May-20 23:15:12

I agree. £10 nowadays wouldn't buy a stocking-filler Xmas present in some households.
I know someone who bought a £499 Kitchen Aid mixer for an 8 yr old as 1 (*one*) of their birthday presents.

GabriellaG54 Thu 14-May-20 23:22:46

I doubt the triple lock will be tampered with this side of Christmas. When the true cost of the virus is known then we may all have to share a bedsheet.
We can't be complacent as it will affect us all in some way. ??

Chestnut Thu 14-May-20 23:23:37

I'm glad you mentioned that £10 because it has mystified me every year since I started getting it! I just looked it up and it says it's a Christmas bonus paid to people who get certain benefits in the qualifying week. It was started in the 1970s but has never been increased. Apparently £10 in 1972 would have been about £140 in today's money which would make more sense, but as it has stayed at the 1972 rate it seems rather pointless.

Doodledog Thu 14-May-20 23:31:40

If the State pension is cut in real terms, then those of use who are having to wait an extra six or seven years to get ours are going to lose out again.

I know that a lot of people think that all 'pensioners' have had life handed to them on a plate, but for people of my generation, it wasn't quite like that. House prices shot up in the 80s (when we bought our first house at the top of the market), interest rates were sky high, as was unemployment in many parts of the country.

Since then, house prices have risen, so that those who live in the SE and London have made a lot of money (as have those who bought council houses), but in the rest of the country those gains are a lot more patchy. People have often been trapped in areas of high poverty and unemployment, as they couldn't afford to relocate.

Add to that the fact that women were victims of legal discrimination at the start of our careers, in many cases have never caught up, and are now having to wait longer for our pensions (and bus passes etc) than previous generations, and the picture is not so rosy. Yet there are still calls for pensions to be reduced, and cries of 'intergenerational unfairness'. My own children and their friends (in their 20s) had a far easier start in life than most people of my generation. Yes, they had loans to pay for university, but many will not pay them back, and at least most young people have the chance to go. This was not the case back in the day, when there were no fees, but many young people were expected to contribute to the family finances, and there was no money to pay for rent and food for students.

I understand that the furlough scheme has to be paid for, and that everyone should take a share, but I also think that we are an easy target, and am sick of being viewed as a 'taker' rather than a 'giver' to society, having paid tax and NI all of my working life (and still paying now that I am semi-retired).

Nanna58 Thu 14-May-20 23:39:03

Absolutely agree with you 100% Doodledog, just because we don’t work now doesn’t mean we didn’t do so ( and damned hard!) all throughout our lives, often starting work at 16 , not the 20+ of those leaving university these days .