Quote:
Originally Posted by Sephiroth
Whilst I support removal of the 2.5% aspect of the triple lock, it's not gonna free a lot of cash for the government when you think about what is happening in the economy and current inflation.
So, what can be done with pensions? Obviously, raise the pension age immediately to at least 70. They can't reduce the payout per week.
They can't touch health other than discover where waste can be cut. They can clamp down on welfare, but the money will need to be rirected for END/child mental health.
We really are up shit creek nix paddle.
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There is a good idea in this
article that you set it as a percentage of average earnings, but also link it with inflation.
So it normally goes up with workers' wage growth, but in times where inflation is higher than that, then the pension will still match inflation. The main difference here (other than giving 2.5% bump anyway) is that the pension then won't continue to go up. It says the same until wages catch up.