State pension triple-lock should be scrapped, say MPs
About Pensions
Here in UKshire, we have to ensure that we have enough to live out the rest of our lives after we have stopped working. In order to have an income we pay our taxes which help fund the state pension, a small pension which everyone is entitled to when they retire. Annoyingly everyone is entitled to the same leel of pension provided they have paid their contributions for over 30 years irrespective of whether they were a higher rate tax payer or not.
This is yet another way that people who strive for successful careers are punished by the system.
In retirement then, your income is the state pension and whatever private pension you have uilt up which may or may not discount the state pension (unclear!).
1950s and 1960s Children hit yet again
If you were unfortunate enough to be born between say 1955 and 1965 you will no doubt be aware of the government’s continued interference with your life and their constant demands for example:-
- Extensive new build schools 1960s
- Scrapping of Grammar Schools and introduction of ‘Secondary Modern’ 1970s
- Failed attempt to join single currency 1980s
- As a result of 3 – interest rates at 15% when you want to buy your house in 1980s
- Introduction of child support agency 1980s
- Introduction of tax on salary enhancements (e.g. company cars, private heath) 1990s
- Extended retirement age to 67 in 2010s
The list goes on and now. . .
An attack on Pensions
The government of the day did a sensible thing, a rarity in its own right. They tied pension growth to three indices, Inflation, Average earnings or 2.5% whichever is the greatest.
Now a group of MPs have decided that this is no longer appropriate, just as the 50s/60s kids ad got through most of the crap the governments of the day have thrown at them.
State pension triple-lock should be scrapped, say MPs – http://www.bbc.co.uk/news/business-37871681
It is OK for MPs though as they line their pockets during their tenure and of course make thousands in fraudulent expense claims.
For us, the struggle to live through the pain exacted on us by governments of the day continues. Should we make it to retirement, it will be a miracle in its own way.
