The Retirement Thread

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Triple Lock
Would someone kindly explain what that is.
A triple lock was introduced to the UK state pension in 2010. It was a guarantee that the state pension would not lose value in real terms, and that it would increase at least in line with inflation
With covid ect inflation is at 8% and that's what we should be getting, but as usual they don't want to pay is so it will be a lot lower, it has been turned over by the House of Lords, but that means nothing so we will have to wait and see
 
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Dirk

Dirk

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Triple Lock
Would someone kindly explain what that is.
The triple lock was introduced a few years ago to protect pensions from inflation.
It guaranteed that pensions would rise each year by at least whichever was the highest - inflation, wages or 2.5%.
Wages rose 8% last year. That is the higher figure that the pension increase should be based on.
The triple lock was 'temporarily' suspended for this year due to the cost of Covid.
 
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Juan Kog

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From todays ride, I thought I would share a picture of this picturesque Hertfordshire country lane .
It didn’t beat me , I picked my bike up and climbed over it.
 
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