Why Are Younger People Against The Triple Lock

The triple lock was introduced by the Tories to win pensioner votes and get into power.

Now the pendulum is (apparently) swinging back to Labour they are teeing up a campaign against not just the triple lock but state pensions in general saying they are resulting in high taxation.

By the next election the Tories will have convinced everybody that the triple lock and high taxes are Labour‘s fault.
 
coluka said:
Yes you are misinterpreting so much. I have no problem with young people. You are the ageist one. I said grants and education should be free and for necessary daily living expenses how is that unfair to younger folk? Many take on jobs to fund social activities some a small few dont as testefied to by relatives at uni now and the recent past and then object to the debt they built up some of which was unwisely spent at the expense of a degree. It isnt the norm clearly. You are the angry one jumping onyour assumptions. G'day!
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I'm angry at people my age perpetuating myths about the young that they are self entitled, take state money and **** it up the wall. Then bizarely being angry that the young are ***ed off with boomers and gen x.
I remember plenty of people my age, myself included, ******* plenty of wages up the wall instead of putting it in a pension. The young today don't get state money. They are likely to have to fund their own healthcare. They're unlikely to receive a pension. For a large proportion they won't be able to afford to buy a house and will have to rent.
When they get to 'retirement' age they won't be able to because they don't own the house they live in so need to keep working to pay the rent.
I really can't fathom why people of MY AGE don't see the absolute ***show that is coming down the road for their kids.
You're falling into the divide and rule trap mate.
 
Dybuk said:
I really can't fathom why people of MY AGE don't see the absolute ***show that is coming down the road for their kids.
You're falling into the divide and rule trap mate.
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You raise a lot of good points, but with respect you are falling into the very trap you are warning others about.
SOME Pensioners are very wealthy, don't need, but have earned the right to the State Pension. But not nearly all.
SOME students are priviliged spoilt kids who have been hugely indulged by wealthy parents and are an expectant entitled group. But not nearly all.

There are pressures faced by every generation. It is natural that groups don't fully see what the others have faced/are facing. It is like comparing football standards across different generations.
Divide and rule is the political game very few of us come out winners in.

Pension Credit tops up State Pension, yet hundreds of thousands either don't or can't access what they are entitled to.
The TL issue is marginal as the State Pension is not enough to enjoy a life on - it is basic subsistence.
 
Malaguena said:
What a complete load of bollox - absolutely zero credibility for making sweeping (and false) generalisations. Typical self-entitled Gen x / Y / Z who want everything without earning it
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These aren't generalisations, they are facts. Obviously, individual people within generations have different experiences but as a whole the boomer generation were given everything to them by the previous generation that had to go through the wars and the setting up of public services and welfare/benefit systems. The boomers in particular have taken way more out than they have contributed, benefited the most from the sacrifices of the previous generation and then most egregiously have selfishly voted Tory the majority of their lives. They have voted to remove the privileges they received.

If you aren't a Tory then obviously, personally, you aren't to blame but the generation as a whole is and that is undeniable.

Typical self-entitled Gen x / Y / Z who want everything without earning it
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The most laughable thing is comments like above because that is exactly what the boomers have had. Yes, you have contributed to your pension but the youth of today don't have the final salary pensions as an option. Yes, you paid for your house but the there was affordable housing which the younger generations can't afford. Yes, young people today have iPhones, netflix and avoacados which you didn't have but the average deposit needed for a first time buyer is the equivalent of 28 years of iphones, 194 years of netflix of 76 years of eating 1 avocado per day. They aren't the problem, the problem is that house prices are too high and no amount of reducing avocado consumption is going to get them that deposit. The boomers got everything without earning it and have pulled up the ladder so there is no way to earn it for the majority of people.


I said in my first post I wasn't against the triple lock and I'm not. I am for it but I think it should be in place for all other benefits and public sector salaries. The issue really isn't even pensions, it is what the triple lock represents which is looking after a specific group of people that have enjoyed the best of everything and then voted to remove those things for following generations. The boomers should be utterly ashamed that their children are less well off than they were but instead they blame their children's generation for living in a world the boomers have control over.
 
JonnyHistory said:
Maybe because it's that cohort that voted for Brexit in large numbers and damaged the earning potential of two or three generations whilst the boomer pensioners maintain their level of earnings?

Or maybe it's because it's obviously a cynical attempt to capture the grey vote at the expense of the younger generations?

I have no form opinion on this and in the main think we should look after everyone in society, but if they can't find inflation matching pay for nurses, drs ect why should pensioners is a genuine argument and grievance is a genuine and legitimate stance to take for me.

I suppose what I'm saying is it's a cynical vote grab and people can see through it.
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Could agree with some of that if the Government were not looking at ways to get out of the triple lock even for a short period.

www.theguardian.com

Treasury officials mull one-off break from pensions triple lock

Government insiders believe they can justify ‘tweaking’ formula that decides pension increase in order to save £1bn
www.theguardian.com www.theguardian.com

UK government weighs change to ‘triple lock’ to limit pension increase | Financial Times

Ministers look at a rise in line with earnings excluding bonuses — below the headline 8.5% rate
www.ft.com www.ft.com

www.theguardian.com

Planned changes to pensions triple lock divide Tory MPs

Some Conservatives insist policy is ‘sacrosanct’, while others are pushing for it to be overhauled
www.theguardian.com www.theguardian.com
 
I'm genuinely not falling into the trap. Yes my first post was flippant but I was just trying to point out that the point made by Col could equally be made against some retirees. People my age are very willing to call the youth out but much less willing to look closer to home.

Please have a read of these two lines back and let me know if they show a bias:

SOME Pensioners are very wealthy, don't need, but have earned the right to the State Pension. But not nearly all.
SOME students are priviliged spoilt kids who have been hugely indulged by wealthy parents and are an expectant entitled group. But not nearly all.

'Some pensioners don't need but have earned'
'Some students are priviledged spoilt entitled'

Language matters.
 
I think in 10-15 years, maybe sooner, we will start to see a real crisis where the millions of people who have not been able to get on the housing ladder, for whatever reason, start to approach retirement.

From a personal point of view I don't envisage ever retiring. I've paid into a private pension on and off but unless I was suddenly able to save substantially more I couldn't live off what I would expect to receive at 65, 67, 69 or whatever it is at that point.

As for younger people all that has happened is that the gap between those that have and those that don't has risen. I live in Essex so it's not Teesside prices but you can't even buy a single room studio for less than 100K within 5 miles of me. How are young people ever getting onto the property ladder?

There has to be some sort of fundamental restructuring for society to function properly. As with anything like that, somebody would have to get hurt. I think that the politicians won't be brave enough to do anything of any real substance.
 
I'm a Boomer, worked hard grabbed any extra shift I could and worked a 2nd job at weekends. Mrs worked full time too.
This got me a start on the housing ladder. Had a son by the time he went to uni I was nearly finished my mortgage. This helped me give him enough money to not have to work while at uni and not have to borrow as much. My hard work helped him get a masters and now he earns the kind of money I never managed to earn half of at my peak of earnings.
When me and the Mrs peg out he will get our house and any money we have. This is happening in millions of homes around the country. What has been good for us will help our children on a scale we couldn't of dreamt of. Most Boomers I know inherited a tele and a stereo gram if they were lucky.
 
kader63 said:
Well said,I left school at 16 and went straight to work in the shipyard, worked all my life in heavy industry,I've paid my taxes,never went to uni or college,saved up for a mortgage and have lived within my meens.
I am 3 years away from retirement and have paid into my pension since I was 17, unfortunately alot of today's younger generation don't think to do that .

We deserve our state pension,so just get a life and stop being bitter and thinking only about yourselves.
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The fact you had the option of going into HE free of charge or walking into a job that set you up for life straight out school at 16 just says everything.

I don't begrudge you these things but you say things like stop being bitter when you probably bought your house quite easily, and at your age would have benefitted massively from it's increase in value several times over, and many people your age, if not you personally, will have final salary pensions on top of state pensions to top up earnings with.

Yes you've earned your pension but you won't have to work until you're 70+ to get it, as the age is creeping up, they won't enjoy house price growth to those levels and jobs are going to be scarce. You're part of a generation that could walk out of school into a career in shipyards or steel or chemical works and that just doesn't exist anymore.

They'll have to make do with smaller houses or renting for the most part, if they leave school they'll probably be on an apprenticeship for a few quid a week or have a min wage career ahead of them unless they're lucky, or if they do go to school it'll cost them 30-40k in debt- probably more than your house cost to originally buy. If they do get a decent house it often relies on living at home deep into the 20s or getting a good financial gift off the bank of mum and dad, as they're in the position to do so from their fortunate standing.

A lot of today's generation can't pay into pensions at 17 because they don't have jobs and if they do they can't afford pension payments.

My parents bought their house in nunthorpe for 50k in 86 and it's worth over 300k now, my mates mum bought her house opposite Marton shops for 9k and again worth over £350k now. That's just jot going to happen this time round.
 
Blf said:
This got me a start on the housing ladder. Had a son by the time he went to uni I was nearly finished my mortgage. This helped me give him enough money to not have to work while at uni and not have to borrow as much. My hard work helped him get a masters and now he earns the kind of money I never managed to earn half of at my peak of earnings.
When me and the Mrs peg out he will get our house and any money we have. This is happening in millions of homes around the country. What has been good for us will help our children on a scale we couldn't of dreamt of. Most Boomers I know inherited a tele and a stereo gram if they were lucky.
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Don't count on it. If you or your mrs need help in old age your kids may well get a share of 23k
 
My son still lives at home. When I pop my cloggs he will get the house which is mortgage free. However on the wage he gets I don't think he will be able afford to live her such is the rates, water rates, gas electric etc. Probably couldnt afford things we all take for granted now like Sky, Internet, Netflix just for examples.
 
Blf said:
I'm a Boomer, worked hard grabbed any extra shift I could and worked a 2nd job at weekends. Mrs worked full time too.
This got me a start on the housing ladder. Had a son by the time he went to uni I was nearly finished my mortgage. This helped me give him enough money to not have to work while at uni and not have to borrow as much. My hard work helped him get a masters and now he earns the kind of money I never managed to earn half of at my peak of earnings.
When me and the Mrs peg out he will get our house and any money we have. This is happening in millions of homes around the country. What has been good for us will help our children on a scale we couldn't of dreamt of. Most Boomers I know inherited a tele and a stereo gram if they were lucky.
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When my mother passed away 4 years ago when I was only 30 she left me with nothing. Home ownership is a distant dream for me despite working since I finished college, already feel like I'm too old
 
asredastheycome said:
Thats correct. Currently in the process of taking steps so that cannot happen.
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What steps are these? You need to be really careful as loads of bad advice out there about transferring assets etc but it will all be looked at and it can be deemed purposeful deprivation of assets and all undone. There's even no time limit on it so if you give your son 50k now they can look back on that.
 
coluka said:
How many Uni students actually end up paying all their loans back?
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I think this is something the papers have really mislead most of the public on.

Most uni students probably will pay their loans back, even if it takes them the full 30 years. Any that don't, it's not cause they're getting some brilliant lucky freebie, it's because they've graduated into a country without decent paying jobs to go into. You shouldn't resent them for it, as others have said it's a millstone.

Funnily enough I checked mine yesterday. Reckon I'll have paid it off in about 7 years. I'm 35 now so have been paying for nearly 15 years. It's about £150 a month for me.

I was one of the ones that went to uni on the £3k per year fees so it'll be far worse for people just 4 or 5 years younger than me.
 
SuperStu said:
I think this is something the papers have really mislead most of the public on.

Most uni students probably will pay their loans back, even if it takes them the full 30 years. Any that don't, it's not cause they're getting some brilliant lucky freebie, it's because they've graduated into a country without decent paying jobs to go into. You shouldn't resent them for it, as others have said it's a millstone.

Funnily enough I checked mine yesterday. Reckon I'll have paid it off in about 7 years. I'm 35 now so have been paying for nearly 15 years. It's about £150 a month for me.

I was one of the ones that went to uni on the £3k per year fees so it'll be far worse for people just 4 or 5 years younger than me.
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Why use the word resentment when i don’t. I have clearly said it should be free for them too.
 
Blf said:
When me and the Mrs peg out he will get our house and any money we have. This is happening in millions of homes around the country. What has been good for us will help our children on a scale we couldn't of dreamt of. Most Boomers I know inherited a tele and a stereo gram if they were lucky.
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Touch wood nothing like this happens for you personally Blf but there will of course be a lot of people that think they have this brilliant inheritance ready for their children and then later in life find it all disappears in healthcare and end of life costs. Medicines advancements mean people live longer and longer, reaching ages when they need more and more assistance. As others have mentioned there'll be a lot of millenials and gen z's that were never able to afford their own property and still don't inherit anything.
 
Blf said:
I'm a Boomer, worked hard grabbed any extra shift I could and worked a 2nd job at weekends. Mrs worked full time too.
This got me a start on the housing ladder. Had a son by the time he went to uni I was nearly finished my mortgage. This helped me give him enough money to not have to work while at uni and not have to borrow as much. My hard work helped him get a masters and now he earns the kind of money I never managed to earn half of at my peak of earnings.
When me and the Mrs peg out he will get our house and any money we have. This is happening in millions of homes around the country. What has been good for us will help our children on a scale we couldn't have dreamt of. Most Boomers I know inherited a tele and a stereo gram if they were lucky.
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You are the typical bank of mum and dad. Your life choices plus the prevailing circumstances are such you can pass on to your son. That’s great. Not sure it’s always because of graft and hard work mind from “millions”. Astute investment in the property market created a generation of lotus eaters.
 
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