End of the triple lock ?

[papasmurf]

Of course not, of course not

I don't have any rich relatives at all. Never have. 

[Borchester]

I have no rich relatives at all. None, zero, zilch.

Of course not, of course not

[papasmurf]

So you have rich relatives and are one of those rentier capitalists you are always railing against?

I have no rich relatives at all. None, zero, zilch.

[Borchester]

Nick my very small mortgage was paid off by a very small inheritance. My wife had to live on her savings for six years until she was 66 because of the Tories increasing the women's retirement age without giving them any time time to plan. (My wife could not work beyond 60 because of ill health.)

So you have rich relatives and are one of those rentier capitalists you are always railing against?

[Nick]

Nick my very small mortgage was paid off by a very small inheritance. My wife had to live on her savings for six years until she was 66 because of the Tories increasing the women's retirement age without giving them any time time to plan. (My wife could not work beyond 60 because of ill health.)

Fair enough. 

[papasmurf]

It' You're 75!! How has the last 13 years possibly impacted on you preparing for a decent retirement. You even said your mortgage was paid off by a relative passing, doesn't sound like much peep was done to me.

Nick my very small mortgage was paid off by a very small inheritance. My wife had to live on her savings for six years until she was 66 because of the Tories increasing the women's retirement age without giving them any time time to plan. (My wife could not work beyond 60 because of ill health.)

[Nick]

Nick my wife and I are not skint.  But we can't afford to eat out three nights a week. We did prepare both of us from an early age. But my wife is a WASPI woman and the Tory government cost her six years pension. Plus the other Tory cock-ups in the last 13 years.

It's not compulsory to eat out 3 times a week, and if you had prepared properly you wouldn't be struggling (your words). You're 75!! How has the last 13 years possibly impacted on you preparing for a decent retirement. You even said your mortgage was paid off by a relative passing, doesn't sound like much peep was done to me. 

[papasmurf]

Preparing for your old age happens when you're still young, this might explain why you're skint. Fail to prepare, prepare to fail.

Nick my wife and I are not skint.  But we can't afford to eat out three nights a week. We did prepare both of us from an early age. But my wife is a WASPI woman and the Tory government cost her six years pension. Plus the other Tory cock-ups in the last 13 years.

[Nick]

Nick, how are elderly and infirm people supposed to do that?

Preparing for your old age happens when you're still young, this might explain why you're skint. Fail to prepare, prepare to fail. 

[Borchester]

It barely keeps up with inflation, especially food inflation.

In that case why do all the supermarkets in The Lizard have bare shelves?

Someone must be able to pay for all the food you and your mates are scoffing.

I can see it on your tombstone.....

"Here lies Pappy, beloved sock puppet of Gerry's mum, died from a surfeit of good food and wine caused by over indulgence of Tory benefits "

[papasmurf]

How about people start taking a bit of responsibility for their own future?

Nick, how are elderly and infirm people supposed to do that?

[Nick]

It barely keeps up with inflation, especially food inflation.

How about people start taking a bit of responsibility for their own future?

[papasmurf]

But the triple lock ensures the state pension only gets more generous over time relative to the rest of the economy.

It barely keeps up with inflation, especially food inflation.

[BeElBeeBub]

That's because they pay considerably more in. If you want a bigger pension you should prepare for your old age and have a private pension, or bricks and mortar. Very simple economics, if you put FA in, you get FA out.

But state pensions are typically paid out from current revenue and borrowing. How much you put in is a function of how much big the pension burden is at the time you are paying in and how much you get is dependent on how much tax burden the current employed are shouldering 

But the triple lock ensures the state pension only gets more generous over time relative to the rest of the economy. 

[Nick]

Really? Evidence please for the considerably.

Yes, really. In Italy for example, an employer has to pay 30% of a Workers salary as well as the 10% by the employer. In the U.K., most employers will match contributions up to about 7%, that's a massive difference.