State pension triple lock

[gant]

not many people will get a higher state pension than the tax threshold


taxes have to be paid if people want services. Just accept that and move on

By 2028?

 

[denso13]

not many people will get a higher state pension than the tax threshold

Perhaps. It was this I was referring to,

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.

 

[Murdochcat]

By 2028?

you lost me

 

[JohnD]

Why give someone a pension and then take it back?

You do of course realise that if your state pension was made non-taxable, the gross amount would be reduced?

As it is, people on low incomes ( currently below £12570) don't pay income tax anyway.

 

[gant]

you lost me

The tax threshold when you pay tax has been frozen till 2028. Before that the threshold used to rise in line with inflation.
If pensions were to rise with inflation it's not hard imagine how many that would drag into paying tax on their pension.

 

[JohnD]

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

They think that voters are too stupid to notice.

Perhaps they are right.

Some are.

 

[denso13]

If pensions were to rise with inflation it's not hard imagine how many that would drag into paying tax on their pension.

And part-time minimum wage workers salaries.

 

[Murdochcat]

The tax threshold when you pay tax has been frozen till 2028. Before that the threshold used to rise in line with inflation.
If pensions were to rise with inflation it's not hard imagine how many that would drag into paying tax on their pension.

got you

that’s an issue the next Government will need to resolve. Not the current one

re the threshold, if the last few administrations had kept to raising the limit by inflation I wonder what the actual rate would be now? IIRC Labour didn’t increase the threshold one year

 

[JohnD]

Some people get pay rises that are less than inflation, so they get poorer

But pay extra tax because the tax allowances are not indexed.

Poor sods.

This is deliberate government policy.

 

[Murdochcat]

Gordon Brown didn’t raise the tax threshold in 2009

and he made permanent damage to my pension from 1998 and all subsequent years

like it or not taxes need to rise ..

 

[Mottie]

You do of course realise that if your state pension was made non-taxable, the gross amount would be reduced?

No, I don’t. Do you? Any proof of that or is it just in your mind?

 

[gant]

Gordon Brown didn’t raise the tax threshold in 2009

and he made permanent damage to my pension from 1998 and all subsequent years

like it or not taxes need to rise ..

To pay for spaffing it up the wall on covid, to pay for vanity projects on a railway that gets you quicker to London by minutes.
To put up boat people and on and on.
When we left the eu I expected vat to be reduced ha ha ha.

 

[JohnD]

No, I don’t. Do you? Any proof of that or is it just in your mind?

Do you think your government has a policy of giving better-off pensioners an extra annual handout of £2500 or so?

Paid for by other taxpayers?

What is Father Christmas going to bring you this year?

 

[Mottie]

Do you think your government has a policy of giving better-off pensioners an extra annual handout of £2500 or so?

Paid for by other taxpayers?

What is Father Christmas going to bring you this year?

So, no proof then. Just in your mind. Okay.

 

[denso13]

like it or not taxes need to rise ..

Either way pensioners shouldn't be given preferential treatment. Either raise the thresholds, or don't, for all.