Pension triple lock under review !!!!

[islandgun]

4 minutes ago, udderlyoffroad said:

You lot didn’t “pay in”, your taxes paid for the (state) pensions of people who were retired whilst you were working.

Now you’re drawing a pension, the current generation of tax payers is meeting that cost. There is no state ‘pension fund’. 
 

Don’t be fooled by the fact that years of contributions determines entitlement amount.

Message ends.

thats true, just a tax like all the rest

[Lloyd90]

19 hours ago, Old farrier said:

 

maybe although it would be very unfair there should be no old age pension to anyone who has a private pension 

Another punishment for hard work and being successful?! 
 

So a higher rate tax payer has to spend 50+ years working until getting to state pension age. 
 

Pay higher rate tax and massive amounts of national insurance. 
 

Then after paying in all their life, contributing significantly more tax and NI than most, they aren’t entitled to a pension because they’ve paid into a private pension scheme? 
 

Whilst someone who’s failed to save or make any provision for themselves gets one? 
 

Outrageous. 
 

 

[amateur]

14 minutes ago, scolopax said:

The triple lock is a joke, ridiculous bribery for the grey vote.

I have no problem with my being bribed.

 

[Old farrier]

1 hour ago, Lloyd90 said:

Another punishment for hard work and being successful?! 
 

So a higher rate tax payer has to spend 50+ years working until getting to state pension age. 
 

Pay higher rate tax and massive amounts of national insurance. 
 

Then after paying in all their life, contributing significantly more tax and NI than most, they aren’t entitled to a pension because they’ve paid into a private pension scheme? 
 

Whilst someone who’s failed to save or make any provision for themselves gets one? 
 

Outrageous. 
 

 

About as outrageous as welching on the triple lock 

or doesn't inflation and rising energy costs affect pensioners 

[armsid]

It is alright oowee saying scrap the Gov paying the Pension and move it to the private sector along with higher employer/ employee contributions but going by previous Labour chancellor screwing pensions companies having holidays  firms going bust after not paying thier wack into the fund robbing the fund blind  then there needs to be legislation and jail for the robbers no matter who they are and tax all benifits as some folk get above the tax allowance some may deserve it a lot are capable of working but don,t as their benifits are more than they could earn and qualify for other things as well all tax free and they still get a state pension  eg new boiler scheme £31000 income or less and on benifits you get one under £31000 no benifits no new boiler  and yet no one can tell me what income i need to live here France you need 1100 euros a month to live there Spain 2500 euros month 

[oowee]

16 minutes ago, armsid said:

It is alright oowee saying scrap the Gov paying the Pension and move it to the private sector along with higher employer/ employee contributions but going by previous Labour chancellor screwing pensions companies having holidays  firms going bust after not paying thier wack into the fund robbing the fund blind  then there needs to be legislation and jail for the robbers no matter who they are and tax all benifits as some folk get above the tax allowance some may deserve it a lot are capable of working but don,t as their benifits are more than they could earn and qualify for other things as well all tax free and they still get a state pension  eg new boiler scheme £31000 income or less and on benifits you get one under £31000 no benifits no new boiler  and yet no one can tell me what income i need to live here France you need 1100 euros a month to live there Spain 2500 euros month 

Not quite sure i follow all of this but i would certainly agree the protections need to be higher. Pension payments (benefits) are currently too high relative to contributions and they encourage many pensioners to not work. If the system of payments related  more closely to contributions, many pensioners would not be able to sit at home relying on benefits (pension). 

[12gauge82]

23 hours ago, oowee said:

We need to reduce payments or life expectancy. Either that or increase output and profitability..... ooops sorry I forgot we voted against that. 

I'd stop illegal migration first and the billions a year its costing the tax payer and the abject poverty it causes.

[shaun4860]

On 12/09/2023 at 18:19, Jega said:

 

IT IS NOT A BENEFIT ,GOT IT SUNAK AND Co ? 

That’s a misconception.

Like it or not the SRP IS a benefit 

4 hours ago, Lloyd90 said:

Then after paying in all their life, contributing significantly more tax and NI than most, they aren’t entitled to a pension because they’ve paid into a private pension scheme? 

 

 

Where do you get your facts from?

Where does it say anywhere that people who have paid into a private pension cannot get a SRP?

 

[shaun4860]

On 12/09/2023 at 23:01, Weihrauch17 said:

Says a man with a huge Civil Service Pension.  |**** off. 

Am I missing something 🤷🏻‍♂️

[mellors]

8 hours ago, shaun4860 said:

That’s a misconception.

Like it or not the SRP IS a benefit 

Where do you get your facts from?

Where does it say anywhere that people who have paid into a private pension cannot get a SRP?

 

It doesn't. 

I'm on final salary pension and i get a slightly reduced state pension due to being contracted out. 

Also pay a lot of tax. ☹️

[Lloyd90]

11 hours ago, shaun4860 said:

That’s a misconception.

Like it or not the SRP IS a benefit 

Where do you get your facts from?

Where does it say anywhere that people who have paid into a private pension cannot get a SRP?

 

 

I was replying to Old Farrier, who said (and it has been said by many in the media recently) that they should means test the state pension / not give state pension to people who have a private pension. 

[derbyduck]

17 hours ago, scolopax said:

The triple lock is a joke, ridiculous bribery for the grey vote.

Well that gets my vote ! 

[Old farrier]

49 minutes ago, Lloyd90 said:

 

I was replying to Old Farrier, who said (and it has been said by many in the media recently) that they should means test the state pension / not give state pension to people who have a private pension. 

Thank you for your reply earlier 

sadly some take a snippet from a post and then it becomes unclear what the point is 

im sure means testing will come in the future which won’t bode well for the prudent savers of society 

It just seems unjust that the MPS can give the public sector a pay rise (and themselves) and then welch on a ring fenced policy 

Im sure they will come up with something to give with one hand and take with the other 🤔

[wymberley]

This is all too complicated for me - probably the Government's intention so they can screw one with impunity. Reading through I'm getting the impression some think that you stop paying tax when you retire and draw your (state) pension - or any other one for that matter. Sooner or later they'll probably tell me that it is in my interest if they tax my War Pension as well.

[Rewulf]

On 12/09/2023 at 22:31, oowee said:

We need to reduce payments or life expectancy.

Really ? 
How are we going to achieve this , a new pandemic ?

On 12/09/2023 at 22:31, oowee said:

Either that or increase output and profitability..... ooops sorry I forgot we voted against that. 

Please expand on this 'vote'

17 hours ago, scolopax said:

The triple lock is a joke, ridiculous bribery for the grey vote.

A very condescending way of looking at our seniors.

[amateur]

14 hours ago, oowee said:

...... Pension payments (benefits) are currently too high relative to contributions and they encourage many pensioners to not work. If the system of payments related  more closely to contributions, many pensioners would not be able to sit at home relying on benefits (pension). 

Surely the whole point of the SRP is that it is for those who are too old to work and to maintain a basic level of support.

The old work- and almshouses, which were the only alternative to starvation and death for the elderly in the past, are, thankfully, long gone.

The current SRP is too low for most to exist on, but, fortunately, many supplement it with their private pensions.

Sunak and Starmer will find meddling with it very costly.

[enfieldspares]

1 hour ago, amateur said:

The old work- and almshouses, which were the only alternative to starvation and death for the elderly in the past, are, thankfully, long gone.

Yes. It was then that bronchial pneumonia was known as "the old man's friend" as it would kill off those too poor in winter to keep their dwellings either warm or dry. 

Edited September 14, 2023 by enfieldspares

[stumfelter]

19 hours ago, oowee said:

Not quite sure i follow all of this but i would certainly agree the protections need to be higher. Pension payments (benefits) are currently too high relative to contributions and they encourage many pensioners to not work. If the system of payments related  more closely to contributions, many pensioners would not be able to sit at home relying on benefits (pension). 

Don't know if you really believe this or are after bites but either way you're some piece of work....

[old man]

2 hours ago, enfieldspares said:

Yes. It was then that bronchial pneumonia was known as "the old man's friend" as it would kill off those too poor in winter to keep their dwellings either warm or dry. 

Coming to dwellings near us all soon, courtesy of our own government?

[Weihrauch17]

27 minutes ago, old man said:

Coming to dwellings near us all soon, courtesy of our own government?

This and absolutely disgusting from them, they deserve the very worst society can give them.

[Keith RW]

On 13/09/2023 at 19:01, Lloyd90 said:

Another punishment for hard work and being successful?! 
 

So a higher rate tax payer has to spend 50+ years working until getting to state pension age. 
 

Pay higher rate tax and massive amounts of national insurance. 
 

Then after paying in all their life, contributing significantly more tax and NI than most, they aren’t entitled to a pension because they’ve paid into a private pension scheme? 
 

Whilst someone who’s failed to save or make any provision for themselves gets one? 
 

Outrageous. 
 

 

Totally agree with your above post Lloyd,

All I want personally out of this or any sucessive government is what I have been promised and what I am due to having signed up to the programme having constantly contributed into it since starting work many many moons ago, its bad enough that the goalposts were changed prolonging the event without a fight.

When mine does eventually kick in it will subsidise my personal pension which some seem to think should be enough, what they apparently fail to recognise is that the contributions made into private pension provisions are monies not spent either enjoyed or squandered during a lifetimes employment, but monies invested in oneself so as not to rely wholely on the so called state.

Some folks have some strage ideas, but not the first time I heard it, usually its from the green eyed monsters of envy.

 

[Keith RW]

22 hours ago, oowee said:

Not quite sure i follow all of this but i would certainly agree the protections need to be higher. Pension payments (benefits) are currently too high relative to contributions and they encourage many pensioners to not work. If the system of payments related  more closely to contributions, many pensioners would not be able to sit at home relying on benefits (pension). 

 

3 hours ago, stumfelter said:

Don't know if you really believe this or are after bites but either way you're some piece of work....

+1 (some piece of work this chap), let's all keep working for the masters till we drop then should we, ?????

Definition of "Pensioner" ...... "a person who receives a pension, especially the retirement pension" 

I think the main gist of the conversation here is Retirement ........... rather than to keep marching to the sound of the drum, and to be able to do so relatively comfortably for however many years we may have left on thee planet having spent the vast majority getting to this point working for a living in the first place.

[Old farrier]

26 minutes ago, Keith RW said:

Totally agree with your above post Lloyd,

All I want personally out of this or any sucessive government is what I have been promised and what I am due to having signed up to the programme having constantly contributed into it since starting work many many moons ago, its bad enough that the goalposts were changed prolonging the event without a fight.

When mine does eventually kick in it will subsidise my personal pension which some seem to think should be enough, what they apparently fail to recognise is that the contributions made into private pension provisions are monies not spent either enjoyed or squandered during a lifetimes employment, but monies invested in oneself so as not to rely wholely on the so called state.

Some folks have some strage ideas, but not the first time I heard it, usually its from the green eyed monsters of envy.

 

To be fair you will probably loose most of it in tax 

your state pension will take care of the tax allowances and you will have to pay 20..40% on taxes on your private pension income 

giving with one hand taken with the other 🙄

[grahamch]

We have the lowest state pensions in Europe and those who have worked and paid in all their lives deserve a decent pension. 

Look after our own first but we don't - instead we waste billions on pointless overseas aid and god knows how much on alleged refugees and asylum seekers.

 

[Keith RW]

4 minutes ago, Old farrier said:

To be fair you will probably loose most of it in tax 

your state pension will take care of the tax allowances and you will have to pay 20..40% on taxes on your private pension income 

giving with one hand taken with the other 🙄

Well aware of the tax implications and dont have an issue with them,

Just want what's rightfully due without someone else deciding how or what those of us that have made additional provisions should be due