Pensions to rise with inflation - but what about working people???

[doris9034]

BBC Website: "Liz Truss and Chancellor Jeremy Hunt jointly agreed to guarantee that the state pension rises with inflation next year - thereby maintaining the "triple lock" - ahead of PMQs this morning, Downing Street says.
In a huddle with reporters after PMQs, the prime minister's official spokesman said the decision reflected the "unique position" of pensioners who are "unable to increase their earnings through work"

But I - and millions of others - are also unable to "increase our earnings through work" because we are in the middle income bracket, our employers do not have the capacity to raise our earnings in line with inflation and we don't qualify for any state related benefits.

So, whilst I 100% don't begrudge the helping of pensioners (many of whom are probably among the better off anyway), I can't help but feeling a bit annoyed that it always seems to be the ordinary working person / family that never gets any respite from the ever increasing cost of living.

Exactly👏🏼👏🏼👏🏼

How do you know that all of the above is going to persist for the next 40 years? Life expectancy is now falling again.If that’s what you mean by an aging population (surely all populations are constantly aging)

Wages are on the rise again. Market conditions have included periods of high inflation and high interest rates, very low periods and are now on the rise again. House prices are starting to correct.

It’s impossible to say How wealthy today’s cohort will be in 40 years time.

I’ll grant you the better pensions mind. However as a PP mentioned be careful what you wish for if these become means tested

How do you know that all of the above is going to persist for the next 40 years? Life expectancy is now falling again.If that’s what you mean by an aging population (surely all populations are constantly aging)

You don't know what ageing population means do you?

Wages are on the rise again.

Wages have been stagnating for years though & they aren't rising in line with inflation are they?

House prices are starting to correct.

Are they?

It’s impossible to say How wealthy today’s cohort will be in 40 years time.

Disagree

You don't know what ageing population means do you?

Why don’t you tell me. Before you do bear in mind that life expectancy has started falling.

MN hate people who work hard and earn a middle income 🙄.

Before you do bear in mind that life expectancy has started falling.

By how much?

That slight drop due to covid doesn't mean we are no longer a country with an ageing population

Why are we all arguing with each other instead of taking it up with the government?. It's their fault that the minimum wage is appalling and prices are allowed to rise.
I am 64 so not quite a pensioner but my forecast actually says that no matter how many more contributions I make my pension will not increase apart from cost of living rises. How the fuck can that be fair?
I have worked and contributed for over 40 years and been a sahm in that time. I have had full time jobs and then 4 part time jobs at the same time to work around childcare. School jobs and cleaning etc.
I have to work until I'm 70 due to unavoidable circumstances to pay for a roof over my head.
Seriously how much more do you fucking want from me?

Perhaps we should just shoot everyone over 60?

That’ll learn ‘em for living too long and stealing from everyone🙄

Life expectancy has not increased since 2014. Since then disparities have been down to winter flu seasons Covid etc

Life expectancy has not increased since 2014.

Who said otherwise? I thought we taking it about it falling?

And why does not increasing or dropping back a bit mean we don't have an ageing population?

Not RTFT but just wanted to post this. 1 in 4 pensioners in Britain have over a million pounds in assets.

www.telegraph.co.uk/pensions-retirement/news/number-millionaire-pensioners-quadruples/

"An ageing population is one where the proportion of older people is increasing"

"Population ageing is a result of people living longer and having fewer children."

Why do we assume that things have to continually improve?

where does it end?

Anyone read Back to Methuselah by GBS?

It is falling. Actuaries have been weakening the mortality assumptions on pension scheme valuations for the last two cycles so at least six or seven years.

What’s your definition of an ageing population. You’ve got plenty to say about my view of it

And Re start national service give the pensioners a chance to earn extra money.

That's how the state pension works once you reach the number of years to access it , it doesn't go up it's not a pot like a private pension.

It is falling which won't change the fact we have an ageing population.

What’s your definition of an ageing population.

I already posted that but I'm shocked it has to be spelt out.

You’ve got plenty to say about my view of it

Well because it appears that you don't understand what it is...

@Ffsmakeitstop because your NI contributions aren’t payments into your own personal pension pot. The working population pay them to also fund things like the NHS and unemployment benefits. You might not get anymore ‘out’ of your pension due to your personal contributions, but I’m guessing you might still use the NHS at some point?

How old are you?

because your NI contributions aren’t payments into your own personal pension pot.

which is the problem with the changing demographics as the dependency ratio will be far higher.

I can solve some all of the problems, but you won't like the solutiion. Deny healthcare to anyone over 75. Means I have 9 years left.

That's quite harsh!

You are 20 years younger than me, so you have time to work out a better solution!

I’m talking about the 1960 ffs