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State Pension
Will the triple lock system be Sunaks "Hot Potato" ??.
I think it will be his and his partys downfall .Triple lock is going to be a major issue , but no one wants to discuss it. Sunak,Hunt and DWP Secretary have refused comment or address the issue ,but you can bet your life they are cooking something up between them that will be no advantage to Pensioners.
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I think it will be his and his partys downfall .Triple lock is going to be a major issue , but no one wants to discuss it. Sunak,Hunt and DWP Secretary have refused comment or address the issue ,but you can bet your life they are cooking something up between them that will be no advantage to Pensioners.
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ZACS, in The Netherlands, the State Pension is linked to average earnings.
This is from a House of Commons Briefing Research paper this year,
"The AOW pension is a basic state pension linked to the Dutch minimum wage. A single person gets an amount worth up to 70% of the net minimum wage, while a pensioner couple gets the equivalent of 100% of the net minimum wage (50% each). The AOW amounts are revised each January and July along with the minimum wage itself. Entitlement is residence-based: an individual accrues 2% of the full amount for each year he/she is resident in the Netherlands between age 15 and the AOW pension age, up to a maximum of 50 years. For January-June 2022, the full AOW amounts are: €1,244.35 per month (£237 per week) for a single person, and €851.52 per month (£162 per week) for each member of a pensioner couple."
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This is from a House of Commons Briefing Research paper this year,
"The AOW pension is a basic state pension linked to the Dutch minimum wage. A single person gets an amount worth up to 70% of the net minimum wage, while a pensioner couple gets the equivalent of 100% of the net minimum wage (50% each). The AOW amounts are revised each January and July along with the minimum wage itself. Entitlement is residence-based: an individual accrues 2% of the full amount for each year he/she is resident in the Netherlands between age 15 and the AOW pension age, up to a maximum of 50 years. For January-June 2022, the full AOW amounts are: €1,244.35 per month (£237 per week) for a single person, and €851.52 per month (£162 per week) for each member of a pensioner couple."
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// Most state pensioner paid into the system for 45 years //
Nothwithstanding those employees who contributed into company final salary (Defined Benefit) schemes, to qualify for the full NEW state pension, one needs to have 35 (NI) qualifying years.
Previously it was 30 years i.e., Those drawing their state pension before 2015. Hence they're paid at the lower rate of the current two-tier system.
Nothwithstanding those employees who contributed into company final salary (Defined Benefit) schemes, to qualify for the full NEW state pension, one needs to have 35 (NI) qualifying years.
Previously it was 30 years i.e., Those drawing their state pension before 2015. Hence they're paid at the lower rate of the current two-tier system.
"I think it will be his and his partys downfall" - You've been predicting this "downfall" for 12 years! What you fail to see that Labour's downfall happened in 1979 and there is no effective opposition. It doesn't matter how bad you think the Tories are Labour are worse. Tories win again in 2024 me old china.
//On the other hand, it'll cost the treasury a fortune if he keeps it.//
Indeed. Assuming that, should the triple lock be abandoned, pensions will increase in line with average earnings, it would have cost about £8bn to maintain it. This outrageous sum is four times the current annual hotel bill for accommodating migrants in hotels, so there's some perspective to it. To put it further into perspective, most State pension recipients will have seen compulsory reductions made from their pay throughout their working lives to fund it. The migrants on the other hand.....
Indeed. Assuming that, should the triple lock be abandoned, pensions will increase in line with average earnings, it would have cost about £8bn to maintain it. This outrageous sum is four times the current annual hotel bill for accommodating migrants in hotels, so there's some perspective to it. To put it further into perspective, most State pension recipients will have seen compulsory reductions made from their pay throughout their working lives to fund it. The migrants on the other hand.....
