Op-ed: So we pensioners are rolling in money and laughing all the way to the bank are we?
I wonder how many of my retired friends would agree?
In 2001 pensioners were reportedly £70 a week worse off than the working population and now we are £20 a week better off, allegedly.
The Tory triple lock promise on pensions a few years ago helped pensions improve but with a Tory Spring Statement due from Philip Hammond in March that could in theory end.
Former Tory PM David Cameron used the triple lock as a vote winner assuming many older people vote Tory.
But voting and older age is never so simple.
It is not rocket science:
Well just think about it.
If pensions are allowed to fall back it will affect future pensioners.
Once you retire there is no bonus, except £10 at Christmas which could be scrapped, or overtime, but a winter fuel allowance of £200 a couple and a free bus pass, which could also be scrapped. The bus pass helps older people get out and about and stay well in a win win situation for the government
Surely the silly think tank research that declares pensioners are so much better off than the working population is easily dismissed however?
Generalisations never work and neither do averages that include the very wealthy and very poor.
Take for instance MPs who may ultimately decide on pensions and more and be included in the think tank research.
In late 2015 the Telegraph reported "So if the controversial proposals to raise MPs’ wages from £67,060 to £74,000 are effected, all MPs retiring at that higher salary will have their existing entitlements applied at that level. Say an MP has served 15 years (see graphs). The pension builds at a rate of 1/40th of final salary, giving 15/40ths or 37.5pc of final salary."
Read the full report here http://www.telegraph.co.uk/finance/personalfinance/pensions/11685857/MPs-hidden-perk-7000-pay-rise-equals-85000-pension-boost.html
Out of four reasons cited by Wales Online for the reported "£20 better off" three will not be available to all. They are home ownership, at least one person in a couple working and a company pension.
"The share of pensioner households in which at least one person is in work has shot up from one in eight in 2001 to nearly one in five. This accounts for a quarter of pensioner income growth since 2000."
Yes work till you drop Britain at least for we the people is the goal.
New pensions bad news for many pensioners
Pensions safe from Tory axe for now but for how much longer