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.
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.