Pension 'Tripple Lock' Unsustainable?

[Anna B]

Well, what do you think? Is it unsustainable? Our OAP pension is among the lowest in Europe, and has suffered in the doldrums for years. Now with inflation we might have had chance to catch up a little, so what happens, they want to backtrack on the triple lock pension.

 

Most pensioners have toiled for 40+ years for this pittance, which it's been admitted is impossible to live on, and paid, and paid their taxes to support previous generations of pensioners, but as usual when the current generation needs it, the cry goes up - 'we can't afford it...'

Remember many of the women now of pension age, worked during a time when many were not even eligible for work pensions, and before real opportunities and equal pay had made their way into the mainstream of employment. 

 

[Padders]

27 minutes ago, Anna B said:

Well, what do you think? Is it unsustainable? Our OAP pension is among the lowest in Europe, and has suffered in the doldrums for years. Now with inflation we might have had chance to catch up a little, so what happens, they want to backtrack on the triple lock pension.

 

Most pensioners have toiled for 40+ years for this pittance, which it's been admitted is impossible to live on, and paid, and paid their taxes to support previous generations of pensioners, but as usual when the current generation needs it, the cry goes up - 'we can't afford it...'

Remember many of the women now of pension age, worked during a time when many were not even eligible for work pensions, and before real opportunities and equal pay had made their way into the mainstream of employment. 

 

What do I think?

Same as you Anna.. disgusting.

[echo beach]

I think it ought to be Tripppled!

 

echo.

[HeHasRisen]

10 hours ago, Anna B said:

 

 

Most pensioners have toiled for 40+ years for this pittance,

 

More fool them for not paying into a work or private pension, any pensioner who gets to retirement age solely planning to live off the State Pension is an absolute moron.

Edited September 13, 2023 by HeHasRisen

[Anna B]

16 minutes ago, HeHasRisen said:

More fool them for not paying into a work or private pension, any pensioner who gets to retirement age solely planning to live off the State Pension is an absolute moron.

This affects women of pensionable age more than men, many of whom have taken time out to look after children, and haven't benefitted from careers, well paid jobs, pension schemes etc and now find themselves trying to manage on the state pension alone. Your reply shows a severe lack of understanding of many people's experience. 

 

Pensions have not kept up with inflation for years, support in many areas of their lives which they paid for in taxes has  been steadily withdrawn, health care is poor, and in spite of spending a lifetime working hard, they are being penalised.

 

Far from being 'well off,' which is the current government narrative, many pensioners are struggling with rising prices and everyday expenses. 

[HeHasRisen]

Just now, Anna B said:

This affects women of pensionable age more than men, many of whom have taken time out to look after children, and haven't benefitted from careers, well paid jobs, pension schemes etc and now find themselves trying to manage on the state pension alone.

And whose fault is that? Their own.

 

Sensible people will realise taking time out from work would affect things further down the line. Too many people live for the now without giving a single thought to the future.

I have seen many people in their 20s attempting to opt out of defined benefit pension schemes and asking for refunds because they dont want 6% of their wages taken out. Absolutely moronic thinking.

[Guest]

38 minutes ago, HeHasRisen said:

More fool them for not paying into a work or private pension, any pensioner who gets to retirement age solely planning to live off the State Pension is an absolute moron.

Only In your view.

many others,  for various reasons will differ in their views.

As Anna,  in the post above,  points out   -   Your reply shows a severe lack of understanding of many people's experience. 

 

[HeHasRisen]

2 minutes ago, Organgrinder said:

Only In your view.

many others,  for various reasons will differ in their views.

As Anna,  in the post above,  points out   -   Your reply shows a severe lack of understanding of many people's experience. 

 

Opinions differ, who woulda thunk it eh?

 

What do you think about people in their 20s actively trying to opt out of pension schemes now?

Edited September 13, 2023 by HeHasRisen

[ads36]

yes, unsustainable, our pension-bill is enormous* and growing rapidly.

 

(*£100billion per year, or thereabouts)

 

 

Edited September 13, 2023 by ads36

[HeHasRisen]

2 minutes ago, ads36 said:

yes, unsustainable, our pension-bill is enormous* and growing rapidly.

 

(*£100billion per year, or thereabouts)

 

 

Employers have to offer a workplace pension but employees can opt out of these.

 

IMO this shouldnt be allowed and all employees should be forced to pay into a workplace/private pension.

Edited September 13, 2023 by HeHasRisen