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State pension triple-lock should be scrapped, say MPs on 74k salary and 23k pensions #pensions #finance

The annual basic salary for all MPs is currently £74,962 (as of 1 April 2016). Some of these MP’s are now calling for the pensions of millions of people to be changed so they will no longer receive a minimum 2.5% annual raise ontheir pensions of £8,093.80   (as of April 2016).  MP’s will go on to enjoy a pension of around £23,000 per year, depending on their length of service. MP’s also enjoy generous severence payments when they are voted out of office at a General Election. Details of the new MP’s Pension Scheme can be downloaded HERE.

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The notion that any form of wealth redistribution will happen any time soon is an imaginary scenario. So long as the masses are ruled by a small majority of self interested greed driven individuals then poverty will continue to be a constant for most people of the world.

The “triple-lock” on state pensions – which has protected the incomes of the older generation since 2010 – should be scrapped, a committee of MPs has said.

The triple-lock guarantees that pensions rise by the same as average earnings, the consumer price index, or 2.5%, whichever is the highest.

The Work and Pensions Committee said continuing with it was “unsustainable” and “unfair” on younger families.

The government said it was committed to the triple-lock until 2020 at least.

More here:

http://www.bbc.co.uk/news/business-37871681

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