I’ve been listening for the last two days to heated debate about the triple lock for State Pensions, with two former pension Ministers slugging it out, Ros Altmann and Steve Webb, and increas…
Source: Pensions and the triple lock – some context for the debate
I know these are unfunded pensions (although there’s no reason why governments should trade on their “covenant” this way), but it still seems a cop out to cut the increases, not to find other ways (even investment) to maintain the expected increases.
The experience of inflation at the higher ages bears no resemblance to RPI or CPI or any other index governments choose to introduce.
In the end it all comes down to ‘political expediency’ on how society wishes to support or view its ‘Elderly’ many of which are still having to support the younger generation due to poor employment contracts or disabilities! Old age pensions have always been treated as a ‘political football’ no matter what policy has been put forward, an obvious mover to score points off the opposing organizations. A little more charity is wanting in our politicians and cease calling pensions ‘a benefit’ as they are a ‘right’ either paid for via our NI contributions or into private pension funds that continue to suffer from continued government malfeasance!
Peter D Beattie – FAS/PPF Pensioner