Old Topics Revisited: UK Government scraps pension triple lock for 2022/23

[trevnhil]

If and it’s a big if they keep the triple lock and the amount is 10.1% is actually going to be 8% in real income because 20% of it will go straight back in income tax.

This is only true of the relatively small number of pensioners who actually pay any income tax at all

[Sheer Khan]

Trev I saw an article that stated if pensioners get 10.1% over 500,000 more of them will be paying income tax

[trevnhil]

Indeed some of those who are just below the tax threshold would be lifted into paying taxes. But it is only the income above the limit that is taxed so they would still have a good 'wage rise'

[Kili01]

No they didn't! Well, our patience was rewarded! Since Jeremy Hunt took a compassionate stance on his treatment of State pensioners! Doomsayers were wrong this time. 10.1% increase. Which is great.
But British pensioners have been amongst the worst treated in nearly all European countries, coming near the bottom for the financial amount received.
Grear news that the triple lock was kept. But from what I read, the only pensioners who are likely to get a huge increase are the ones who joined in 2016. Thus many of us 'oldies' as far as I understand will only get it pro rata on our present pensions. Still any increase will be very welcome!

Dee

[trevnhil]

I too am glad that pensioners will receive a 10.1% increase. But it puzzles me why there are two grades of pensioners. The newer ones (after 2016) get more than the older ones, it people who were pensioners before 2016

[Uncle D]

But British pensioners have been amongst the worst treated in nearly all European countries, coming near the bottom for the financial amount received.

Another good reason for brexit, now the UK government will not be pressured into coming into line with France and Germany etc.
Not forgetting the increase of pension ages for women from 60 to now 66 and men 65 to 66 and 67 etc
My wife and many others born in the mid 1950s will have lost up to 46,800 in state pension after the changes were made and me 7,800.

[Poppy]

I too am glad that pensioners will receive a 10.1% increase. But it puzzles me why there are two grades of pensioners. The newer ones (after 2016) get more than the older ones, it people who were pensioners before 2016

But at least we got our pensions at 60 and 65 respectively Trev so many women have lost out 7k- 8k per year for all the years they have had to wait so it will take a good few years for them to catch up. Personally I am quite happy with my pension and very grateful for the 10.1% increase from April - better for you in Cyprus as I don't believe your inflation is running quite so high. We have had so many handouts in the UK that I have never experienced in my lifetime and still people are not happy - I am receiving £66 per month for 6 months towards my energy costs and my bills are not that bad really - my last monthly bill was £120 and that was with heating on for the whole month and so I only actually paid £54. I am £280 in credit and due £500 this month for the winter fuel allowance so am quids in! Fuel costs may go up again next year but they may not but we have also been promised a futher £300 and £150 if on a disability benefit which we are - we both got £150 in September yet people are still moaning as our friends in Oz always say whinging Pommes!!!

[Firefly]

I lost quite a few years of my state pension because I cared for my children before school age.

This was before your pension could be credited by the state for childcare of children under school age.

That said, I'm not complaining, Boris has been good to us, love him or hate him.

[Kili01]

I feel that having had viirtually the lowest pension in Europe for years, this years decision to give pensioners a decent pension increase was fully justified. Especially as only pensioners who qualified for them in or after 2016 will get a full one.
Someone said that due to Brexit the UK Govt wouldn’t be pressured by France & Germany to increase UK pensions..
more poppycock! In or out if the EU, individual countries make their own decisions about their pensions..
Sometimes a lot of rubbish is talked about in the UK about both the supposed benefits of Brexit and of the big ogre the EU!
The UK Govt is still trying to sort out the mess created since Brexit.

Dee