Certified Financial Planner. Independent Financial Adviser. Retirement Planning, Investment Management and Estate Planning. Posts are personal, and not advice.
Maidenhead
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Why our state pensions are lower than other OECD countries ⬇️
We don’t pay enough tax
Some of us do. But most don’t.
The average single earner in Britain pays less tax on their earnings than most of their peers in the OCED, a club of rich countries. They also pay less than they used to. How does the Treasury make the sums add up? economist.com/britain/2026/0…
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'The left'
Reducing benefits, and encouraging self sufficiency, used to be a trait of the right.
Triple Lock...
Whilst the left are scurrying around posting feeble excuses to the end of the Triple Lock saying things like 'it is not a cut for pensioners' then I ask you this.
If it's not a cut in how much pensioners get paid in the future then what's the point of it all?
Genuine Question.
Is it a cut?
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David Hearne, CFP™ retweeted
A better way to think of savings from the triple lock :
Under the old triple lock, government would have had to find an extra £11bn by the end of the next decade. Now they won't have to.
They've removed an unfunded pressure.
This does not translate into cash for social care
DWP savings costing published re triple lock
New policy will save on cash terms £15bn a year by 2039-40, £50bn by 2049-50
In real terms… £11bn by 39-40, £30bn a year by 49-50
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Are you sanctimonious?
Are you well healed?
Do you need a plan for your retirement?
Then maybe you should call….
Don’t you just love those sanctimonious, well-heeled types who believe everyone can ‘make prudent financial plans for retirement’?
Do they understand that many people can’t keep up with their bills, let alone save?
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Still mentioning the 75p a week increase.
Despite Burnham’s proposals having a 2.5% minimum increase to state pension.
🙈
'That £15bn is coming out of the pockets of pensioners'
Conservative Party chairman Kevin Hollinrake spoke to #BBCBreakfast after Andy Burnham set out plans to end the existing state pension triple lock from 2030 to help fund a new national care service
bbc.co.uk/news/articles/cve8…
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What Reform politicians have said today is a DISGRACEFUL way to treat our voters. It’s sickening, it truly is
Imagine voting your entire life, listening to the parties, then reaching the voting booth NOT knowing whether your candidate has been truthful with you or not
What Labour has done today is a DISGRACEFUL way to treat our pensioners. It’s sickening, it truly is.
Imagine working your entire life, paying into the system, then reaching retirement NOT knowing whether your pension will keep pace with the cost of living.
The Triple Lock was designed to give pensioners certainty. Your nan. Your grandad. People who have worked and contributed for decades should not be left counting every penny, worrying about heating, food or whether their retirement income will stretch far enough.
Reform UK has committed to protecting the Triple Lock. Our pensioners have paid in their whole lives, so they deserve that certainty in return.
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For Sam and any other Reform party politicians or members reading this
Triple lock will endure until 2030, and Burnham’s proposals beyond that ensure state pension WILL keep pace with the cost of living
In fact they will probably increase.
Because in any years when inflation is under 2.5% (and remember Bank of England target is only 2.0%) state pension will increases by 2.5%. A real terms increase
And, if earnings growth significantly outstrip inflation (let’s hope so) state pension will also rise further
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David Hearne, CFP™ retweeted
A reminder the Bank of England has a 2% inflation target
This means every year it hits its target, or misses it to the downside, state pensions will still increase in real terms
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Reflecting on yesterdays news that the current ‘ratcheting’ triple lock will instead become a ‘smoothed’ triple lock from 2030
I am pleased.
It took courage to do anything on such an emotive and misunderstood subject
The unsustainability worry has reduced (not gone) which hopefully means state pension is more likely to endure for younger people without the need for significant increases in state pension age to pay for it
But, I also realise it’s wrapped up in more government spending
Perhaps that’s just politics and presentation. (People seem to love some hypothecation)
But like taking a sweet from a child in the morning by promising them two more in the afternoon. You’re still buying more sweets.
And whilst some already seem to think that’s their care fees now funded, and that their children will now inherit their houses. The reality is there are huge steps, and lots more costs (tax) to implement a national social care service
So it’s just another political battle left for another day
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When you’re secretly pleased that @UKLabour are doing something to tackle the rising cost of triple lock on state pensions
But still have to run the attack ad that plays to peoples ignorance’s and misunderstandings
You get…
Andy Burnham wants to scrap the triple lock.
Sign the petition to help us stop him 👇
ProtectPensioners.com
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Give us more money or you might not get an inheritance 🙈
Right phone off
Well done Andy Burnham
See you all tomorrow
As the younger generation attack their pensioner parents, they should be careful that us parents, dont decide to give our homes away to any one but them. Selfishness can bring about consequences @LBC #Triplelocks
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1,000s of views
100s of likes
And completely untrue 😔
If Burnham ends the Pension Triple Lock, he is saying that you are no longer contributing to your own pension, you are contributing to the pension of those that do not contribute.
Community note
Factually incorrect. There's no individual pension fund. No one is contributing to their future state pension. It's a pay as you go system meaning your NI contributions fund pension payments for today's pensioners. Ending the triple lock will have no impact on this system.
ons.gov.uk/aboutus/transp…
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Why do people so often conflate state pension with triple lock which is just a mechanism to increase state pension
Oh
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David Hearne, CFP™ retweeted
Why is nobody talking about abolition of triple lock being a massive vote winner (from the pensions community, younger generations, and even shock horror SOME PENSIONERS!) Taking the bull by the generous horns, bravo.
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Me asking Claude what the state pension increases would've looked like if we'd have had Andy Burnham's new double lock since 2010 instead of triple lock
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These guys work fast
NEW: How will the new triple lock work and what effects will it have?
📊@JCribbEcon, @Heidi_Karj and @HelenMiller_IFS' new comment explains how the new triple lock would work, how much it would cost and how it compares to the previous triple lock:
ALT Chart is an illustration of how the new triple lock would operate compared to the old triple lock.
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