Abolishing the Pension Triple Lock Increase.

Hi

Well, it had to happen.

http://www.bbc.co.uk/news/business-37871681

Inflation is forecast to be at 4% next year, which will be a massive increase in the Pensions cost.

Cameron also pledged no tax increases until 2020.

Something will have to give.

Re: Abolishing the Pension Triple Lock Increase.

Heard this on this mornings radio, seems accordingly will become a problem by 2020.

Re: Abolishing the Pension Triple Lock Increase.

I've been following the WASPI campaign and at every point the "Triple Lock" on pensions has been brought up as a kind of reason why everything is fair.
I wish someone would explain it properly as it just seems to be one of those phrases like "Stronger Economy" which Cameron used in practically every reply he ever gave.

Re: Abolishing the Pension Triple Lock Increase.

Not so, Pensions and benefits are increased by the rate of inflation in November, thus the Chancellor's statement on Tuesday will be the rate at which benefits and pensions are to rise next April.

Re: Abolishing the Pension Triple Lock Increase.

Hi

They will however have to rise by 4% next year if that is what the increase is on the date.

Re: Abolishing the Pension Triple Lock Increase.

I think its the inflation rate in any September that triggers the Rise next April.

Hopefully Interest rates will be going up before then.

But maybe not with this Canook in charge of the BoE

Re: Abolishing the Pension Triple Lock Increase.

I agree, I thought the same Galty.

Re: Abolishing the Pension Triple Lock Increase.

Hi

Dream on galty.

In order to attract the investment we need Interest rates will not be going up, if anything they may have to go down