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In a weird way the uk inflation figure may have blunted the winter fuel payment argument
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By *abio OP Man 6 weeks ago
Newcastle and Gateshead |
Hang on with me.. figures coming
So .. with the UK inflation figure dropping to 1.7% for September (which no one saw coming) … it means that the uk state pension triple lock increase next April is going to be based on average earnings increases, which is 4.1%
What this means is that the full state pension next year will go up from £221.20 to £230.30
Now.. this means the state pension will go up by £475 next year
So I can see the argument that Rachel Reeves is going to use in the budget and going forward
I bet she will say that for those people not now getting the winter fuel payment, a single pensioner will be almost a net £300 pounds better off come April, and a married pensioner couple will be a net £700 pounds better off |
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By *I TwoCouple 6 weeks ago
PDI 12-26th Nov 24 |
How does fulfilling the obligations of keeping pensions in line with wages or inflation negate taking away fuel benefit?
Personally I think it should be means tested but I dont see the logic in your thinking |
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By *abio OP Man 6 weeks ago
Newcastle and Gateshead |
"How does fulfilling the obligations of keeping pensions in line with wages or inflation negate taking away fuel benefit?
Personally I think it should be means tested but I dont see the logic in your thinking "
The poorest who are getting pensions credit will still get the winter fuel payment and in effect be getting 500/1000 pounds more , those who will now not get WFP will still be getting 300/700 pounds more |
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"Hang on with me.. figures coming
So .. with the UK inflation figure dropping to 1.7% for September (which no one saw coming) … it means that the uk state pension triple lock increase next April is going to be based on average earnings increases, which is 4.1%
What this means is that the full state pension next year will go up from £221.20 to £230.30
Now.. this means the state pension will go up by £475 next year
So I can see the argument that Rachel Reeves is going to use in the budget and going forward
I bet she will say that for those people not now getting the winter fuel payment, a single pensioner will be almost a net £300 pounds better off come April, and a married pensioner couple will be a net £700 pounds better off "
As long as they survive the winter. |
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Lower inflation will mean interest rates fall
Quarter % interest cut next month off £2.6trn national debt (and 1% fall by 08/25 forecast). this should be enough to pay the pensioners fuel allowance ? |
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By *abio OP Man 6 weeks ago
Newcastle and Gateshead |
"Lower inflation will mean interest rates fall
Quarter % interest cut next month off £2.6trn national debt (and 1% fall by 08/25 forecast). this should be enough to pay the pensioners fuel allowance ? "
If interest rates do come down in November, which is now a distinct possibility.. I can see it being use for a reversal… only problem is that most people claims process starts at the end of September and aim to have it in accounts by the end of November, so there would be no guarantee most people would get any reversal before Xmas |
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"Hang on with me.. figures coming
So .. with the UK inflation figure dropping to 1.7% for September (which no one saw coming) … it means that the uk state pension triple lock increase next April is going to be based on average earnings increases, which is 4.1%
What this means is that the full state pension next year will go up from £221.20 to £230.30
Now.. this means the state pension will go up by £475 next year
So I can see the argument that Rachel Reeves is going to use in the budget and going forward
I bet she will say that for those people not now getting the winter fuel payment, a single pensioner will be almost a net £300 pounds better off come April, and a married pensioner couple will be a net £700 pounds better off "
Problem with that is the increase in the pension is not to cover heating alone. It is for all increases like food etc. When unions were demanding wage rises they did not ask for enough to cover the rise in heating costs only. Basically many pensioners are faced with heat or eat decisions. Labour's own predictions show thousands to suffer. Heating costs have just risen another 10% on top of the already high price. Your right in that it will be used as an excuse but an excuse is all it is. |
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"Hang on with me.. figures coming
So .. with the UK inflation figure dropping to 1.7% for September (which no one saw coming) … it means that the uk state pension triple lock increase next April is going to be based on average earnings increases, which is 4.1%
What this means is that the full state pension next year will go up from £221.20 to £230.30
Now.. this means the state pension will go up by £475 next year
So I can see the argument that Rachel Reeves is going to use in the budget and going forward
I bet she will say that for those people not now getting the winter fuel payment, a single pensioner will be almost a net £300 pounds better off come April, and a married pensioner couple will be a net £700 pounds better off
Problem with that is the increase in the pension is not to cover heating alone. It is for all increases like food etc. When unions were demanding wage rises they did not ask for enough to cover the rise in heating costs only. Basically many pensioners are faced with heat or eat decisions. Labour's own predictions show thousands to suffer. Heating costs have just risen another 10% on top of the already high price. Your right in that it will be used as an excuse but an excuse is all it is. "
And one million retirees live in private rented accommodation, the average private rent is £1,319 per month, which is an 8.6% increase over the previous 12 months |
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"Hang on with me.. figures coming
So .. with the UK inflation figure dropping to 1.7% for September (which no one saw coming) … it means that the uk state pension triple lock increase next April is going to be based on average earnings increases, which is 4.1%
What this means is that the full state pension next year will go up from £221.20 to £230.30
Now.. this means the state pension will go up by £475 next year
So I can see the argument that Rachel Reeves is going to use in the budget and going forward
I bet she will say that for those people not now getting the winter fuel payment, a single pensioner will be almost a net £300 pounds better off come April, and a married pensioner couple will be a net £700 pounds better off "
the damage is done. Labour did not have it in their manifesto but went ahead anyway after slagging off the Tories a few years ago when they thought about doing it…… typical Labour, say one thing, do another. |
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By *ax777Man 6 weeks ago
Not here |
"Hang on with me.. figures coming
So .. with the UK inflation figure dropping to 1.7% for September (which no one saw coming) … it means that the uk state pension triple lock increase next April is going to be based on average earnings increases, which is 4.1%
What this means is that the full state pension next year will go up from £221.20 to £230.30
Now.. this means the state pension will go up by £475 next year
So I can see the argument that Rachel Reeves is going to use in the budget and going forward
I bet she will say that for those people not now getting the winter fuel payment, a single pensioner will be almost a net £300 pounds better off come April, and a married pensioner couple will be a net £700 pounds better off "
The full state pension only applies to those who reached state pension age after April 6 2016, which Age UK states applies to only 27% of pensioners.
So nearly 3 quarters of pensioners won’t see anything like that increase. Those on the old state pension are likely to see an increase of approximately £360 per year.
Even then, not everyone on both the new and old state pensions will get those increases if they didn’t build up sufficient NICs during their working life to qualify for the full amount. Apparently some 4% of those on the old state pension receive less than 25% of the full amount and 17% receive less than 75%.
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I'm a bit sceptical about the 1.7% figure. Timing seems a bit too convenient.
Food, fuel and utilities are up or going up. Are they thinking the Tories idea sugar coat things wasn't a bad idea after all hope the good old British people will sort the economy eventually then take the credit. |
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