State pension triple lock

[Mottie]

Equals more pensioners paying tax.
It's the threshold people start to pay tax is the rip off and having rely on the state.

Income tax personal allowance threshold is £12,570. My state pension which I will start getting in December is £12,543.73 so below the threshold although I will be paying tax anyway as I still do bits of work, get a private pension and incomes from investments and rentals. If the triple lock will be 8.5% next year, that rise will bring my state pension up to £13,609 so if it was my only income I would be paying tax on that. Why give someone a pension and then take it back? They need to raise the threshold for pensioners who have no other sources of income or make state pension tax exempt.

 

[denso13]

They need to raise the threshold for pensioners who have no other sources of income or make state pension tax exempt.

They need to do that for everyone, or no-one, pensioners shouldn't be singled out for special treatment.

 

[JohnD]

It's just a concealed tax rise, quite deliberate.

They think that voters are too stupid to notice.

Perhaps they are right.

 

[Odds]

But if it's a rise in line with inflation then the government have no choice but to tax the pension when it rises over the current threshold?

 

[carmanmemoranda]

Income tax personal allowance threshold is £12,570. My state pension which I will start getting in December is £12,543.73 so below the threshold although I will be paying tax anyway as I still do bits of work, get a private pension and incomes from investments and rentals. If the triple lock will be 8.5% next year, that rise will bring my state pension up to £13,609 so if it was my only income I would be paying tax on that. Why give someone a pension and then take it back? They need to raise the threshold for pensioners who have no other sources of income or make state pension tax exempt.

They should raise the threshold for all, would help all the lower paid at a stroke.

But then it has to increase elsewhere to make it up. Unfortunately the higher earners don't like that, and they tend to vote Tory. A bit like you.

 

[gant]

Has Starmer said he would?

 

[denso13]

They should raise the threshold for all

Or none. Pensioners shouldn't be an exception.

 

[carmanmemoranda]

But if it's a rise in line with inflation then the government have no choice but to tax the pension when it rises over the current threshold?

Or raise the threshold

 

[carmanmemoranda]

Has Starmer said he would?

Said what?

Or are you just trying to divert away from who the actual Government is?

Just a way of saying " but Labour will be worse"

 

[carmanmemoranda]

Or none. Pensioners shouldn't be an exception.

Agree.

But don't forget who they tend to vote for.

 

[gant]

Said what?

Or are you just trying to divert away from who the actual Government is?

Just a way of saying " but Labour will be worse"

Seeing as the threshold is being discussed, then it follows that I was asking if Starmer has muted whether he would raise the threshold or not given were in the lead in period to an election.

 

[carmanmemoranda]

Seeing as the threshold is being discussed, then it follows that I was asking if Starmer has muted whether he would raise the threshold or not given were in the lead in period to an election.

I think I'd wait until the election is announced and then look at the details.

 

[gant]

I think I'd wait until the election is announced and then look at the details.

But you were quick to jump on the Tories.
I get it.

 

[carmanmemoranda]

But you were quick to jump on the Tories.
I get it.

Who is the Government ? Tory, Labour or other.

The next lot will be worse than this lot. I get it

 

[fixitflav]

Listening to Nicky Campbell this morning, and a caller argued that the lock should remain, so that young people who can't afford to buy a home will be able to pay rent when they become pensioners! Wouldn't it be better if young people could buy a house now? BTW I'm 78.