Discounts for OAPs

[Butcher's Coat]

Because it costs an absolute fortune and some of those people don't really need it?

Bollocks.
The people receiving their pensions now deserve every penny - they have paid into the system, and now it's time to feel the benefit of it.
That is what the Welfare system does - it is there to help and protect people from financial hardship in old age - as well as unemployment etc etc.

As will you benefit from it when you get to retirement age.

No, it ensures it rises on average by more than inflation, more than wages, more than GDP. Then those increases compound.
Its a wealth transfer from a generation who don't have much to the generation who have the most. Thats why people have an issue with it.

If you just want it to keep up with inflation, then peg it to inflation. A single lock if you will

Nah, you're wrong.
Ihttps://www.unbiased.co.uk/discover/pensions-retirement/managing-a-pension/what-is-the-triple-lock-pension-and-how-does-it-affect-me

 

[chunkyshanhawk53]

Love the triple lock, it is a great thing. It ensures that the UK state pension doesn't lose value to inflation.

I don't understand why some people want it done away with.

Why would you want people to have less money?

Because we can’t afford it?

 

[girojim]

Bollocks.
The people receiving their pensions now deserve every penny - they have paid into the system, and now it's time to feel the benefit of it.
That is what the Welfare system does - it is there to help and protect people from financial hardship in old age - as well as unemployment etc etc.

As will you benefit from it when you get to retirement age.

what's bollocks?

I agree people who need it deserve it but the current model is unsustainable surely?

 

[Butcher's Coat]

Because we can’t afford it?

Oh yes you can

what's bollocks?

I agree people who need it deserve it but the current model is unsustainable surely?

It's all for the greater good.
You will benefit from the system in your retirement.
You don't want to see people enjoying their retirement in a system that gives them a decent standard of living by the sound of it.

 

[Redandwhitedust]

I’m fully aware this will be as popular as a guinness fart in a lift, but nevermind. Not trying to be contrary, just intrigued

Why is OAP a discount still a thing. OAP wealth is greater than all other age groups, why do they get a discount for the match, transport, the cinema, whatever?

Don’t give me Mavis who is living on the state pension, the counter is Steve who is living on unemployment benefits.

Because OAPs have spare time and can fill cinema/bus seats in low demand times.

Offering an incentive means at least the bus operator gets something at times when they otherwise would effectively have empty seats.

For things like the match (which isnt on all all day) im not so sure

 

[Edinburgh Black Cat]

Love the triple lock, it is a great thing. It ensures that the UK state pension doesn't lose value to inflation.

I don't understand why some people want it done away with.

Why would you want people to have less money?

It ensures state pension goes up MORE than inflation.

 

[Butcher's Coat]

Because OAPs have spare time and can fill cinema/bus seats in low demand times.

Offering an incentive means at least the bus operator gets something at times when they otherwise would effectively have empty seats.

For things like the match (which isnt on all all day) im not so sure

And the OAP's deserve something in their retirement to enjoy.
As does everyone else when they eventually get to retire.

 

[42]

Bollocks.
The people receiving their pensions now deserve every penny - they have paid into the system, and now it's time to feel the benefit of it.
That is what the Welfare system does - it is there to help and protect people from financial hardship in old age - as well as unemployment etc etc.

As will you benefit from it when you get to retirement age.

Nah, you're wrong.
Ihttps://www.unbiased.co.uk/discover/pensions-retirement/managing-a-pension/what-is-the-triple-lock-pension-and-how-does-it-affect-me

Did you actually read that link. Theres a bit in the middle that says its unsustainable

 

[luvulongtime]

i particularly like the 15 quid gold card addition to my bus pass which gets me a years free Metro use

 

[Butcher's Coat]

It ensures state pension goes up MORE than inflation.

A triple lock was introduced to the UK state pension in 2010 to  it would not lose value in real terms and would rise at least in line with inflation.

The three-way guarantee means each year, the state pension will rise by the highest of the following:

• Average earnings
• Inflation as measured by the Consumer Price Index (CPI
• 2.5%

So, if average earnings increased by 3% (and inflation was lower than this), the state pension would also rise by 3%.

If average earnings or inflation rises by less than 2.5%, the state pension will grow by this amount.

And quite right too.

 

[42]

And the OAP's deserve something in their retirement to enjoy.
As does everyone else when they eventually get to retire.

The can is being kicked further down the road, and future generations are being screwed? What age did you get your state pension? Mine is 68 at the earliest, will probably more likely be 69. Why do you deserve an earlier retirement but I dont (unless I put a lot more away myself over & above what you put away)

A triple lock was introduced to the UK state pension in 2010 to  it would not lose value in real terms and would rise at least in line with inflation.

The three-way guarantee means each year, the state pension will rise by the highest of the following:

• Average earnings
• Inflation as measured by the Consumer Price Index (CPI
• 2.5%

So, if average earnings increased by 3% (and inflation was lower than this), the state pension would also rise by 3%.

If average earnings or inflation rises by less than 2.5%, the state pension will grow by this amount.

And quite right too.

Its your grandkids futures that are paying for it.

 

[Butcher's Coat]

Did you actually read that link. Theres a bit in the middle that says its unsustainable

Yes I did.

 

[42]

Yes I did.

So you couldn't have come to the conclusion I was wrong then

 

[Mousehold Mackem]

The can is being kicked further down the road, and future generations are being screwed? What age did you get your state pension? Mine is 68 at the earliest, will probably more likely be 69. Why do you deserve an earlier retirement but I dont (unless I put a lot more away myself over & above what you put away)


Its your grandkids futures that are paying for it.

Life expectancy has changed dramatically. Pensioners no longer do the state a favour by dieing before they get to 70.

 

[chunkyshanhawk53]

Oh yes you can

It's all for the greater good.
You will benefit from the system in your retirement.
You don't want to see people enjoying their retirement in a system that gives them a decent standard of living by the sound of it.

We quite obviously can’t

 

[Butcher's Coat]

What age did you get your state pension?

I get mine at 66 years and 2 months - in late July.
I have already had to wait over a year to get my State Pension - so that's £12k that I should have had.
BUT - I knew that years ago - and have budgeted correctly to allow for this.

So you couldn't have come to the conclusion I was wrong then

I did.

We quite obviously can’t

Oh we can, and we will.

 

[luvulongtime]

Yes I did.

bet you read it through free specs anarl

 

[42]

Life expectancy has changed dramatically. Pensioners no longer do the state a favour by dieing before they get to 70.

I know its part of the problem, but increasing life expectancy has been known for decades, but can was kicked down the road. The current young generation is not only paying for that mistake but also paying extra on top for the triple lock. The affluent boomer generation just need some self awareness of the issue instead of taking a massive hissy fit cos they lost their £200 holiday spends

 

[Butcher's Coat]

Life expectancy has changed dramatically. Pensioners no longer do the state a favour by dieing before they get to 70.

Correct - the old 3 score and ten has long gone thank fuck.
But hey-ho - let those who have done their bit enjoy it.

Glad I don't have to wait as long for my pension as some of you financial whizzkids out there on the SMB

 

[Redandwhitedust]

And the OAP's deserve something in their retirement to enjoy.
As does everyone else when they eventually get to retire.

Thats a nice bonus. But the biggest reason is companies know that OAPs have the time (and often money) to spend when most customers are at work and business is typically slower.

But theyre harder to get out of the house to spend the money.

Offer cheap meals (usually a smaller portion), cheaper activity costs, and you get revenue at a time when youd otherwise be empty.

Theres also a factor that old people often dictate where the rest of the family goes. Get the old dears in, and youll probably get their family too paying full price.