Pension decrease

Blainem

Hi ,my name is Blaine, what are your views on the government reduction in old age pension we all get old and need this money to live

Kimi87

How has the state pension been reduced?

Blainem

It is going to be reduced later this year by this government to save money as they promised not to increase income tax but doing it in different ways .

MD1955

Blainem…I think you have got the wrong end of the stick here. I’m an OAP. Pensions have increased for a while using the Triple Lock. Labour are looking at getting rid of TL but pensions will still increase maybe by not as much each year. They won’t decrease.

66Mustang

There's 2 things I can think this might be referring to, neither of which a) have happened yet or b) is a direct cut but both of which would be effectual cuts:

There is talk of a review of the date the state pension age will go up

There's also the income tax freeze which means if the state pension goes up much more people whose only income is the state pension will fall into an income tax bracket… so every £1 rise in the state pension will be worth 80p which may result in a real-term income decrease when taking into account inflation

MD1955

Hello. Pretty sure state pension age will be increased but after last time ‘they’ did this with women’s pensions…….the notice will be at least 5 years. Last point is true but remember most parties rely on pensioners votes so unlikely they will let this happen