Why are the Tories making such a big fuss about pensions?

Poor Tories, complaining about giving a pay rise of eight per cent to pensioners.

They don’t reckon it’s fair that OAPs should get such a huge increase, and to be honest, they’re right.

The problem is in the so-called Triple Lock guarantee, that means pensions rise in line with the rising cost of living seen in the Consumer Prices Index (CPI) measure of inflation, increasing average wages, or 2.5%, whichever of those three is highest.

The guarantee did not anticipate wages falling by a huge amount in any particular year, and then rising back to – or beyond – their original level, as is happening now.

This means that, because pensions did not fall, pensioners seem set for a windfall. The Tories reckon that is unfair and, in fairness, they have a point.

But there’s a simple solution. Instead of increasing according to the difference between last year’s wages and this year’s, they could calculate the difference between the wages of the year before – in other words, before Covid affected wages – and now, adjust it according to the amount that pensioners received last year, compare that figure with CPI and the 2.5 per cent figure, and increase pensions by whichever of those three numbers is highest.

It’s not rocket science.

The problem is that the Tories simply don’t want to give pensioners anything at all.

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2 thoughts on “Why are the Tories making such a big fuss about pensions?

  1. Valerie j Matthews

    Pensioners generally are receiving NO increase, those on Pension Credit’ are having a sum equal to their increase in Basic Pension deducted from their Pension Credit! Those who are better off are being taxed for the first time, These are not individuals on big incomes. They may be just a few pence over the decided ‘limit’. The actual result is many are now worse of after a so called ‘increase’ It is smoke and mirrors, I have lost £16 from my very small income, this year!

  2. Ron Graham

    But it is okay for these hypocrits to give themselves between 8 and 10% increase in salaries and awarding Dominic Cummings £40k to leave peacefully. Thats before they start fiddling their expenses. Get your own House in order before attacking the working man.

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