Ex Blue Suits - good news!

[reheat module]

Hope all the ex-Service boys and girls who are on/were on Pensionable engagements, noted today's release of September 2017 CPI Figure...
Tasty!

[big john]

Its OK for us index linked pensioners, but as its the same as inflation we will actually be no better off, especially those who will now have to pay tax on it.
If it forces an increase in interest rates then that will be better for my investments.

[ArabJazzie]

If it were linked to things that pensioners buy, then it might actually mean something!

[jem60]

I have a Private Pension, not indexed liked, whereas my OAP pension is. If interest rates go up, then my investments go up. My view is that, as an OAP of 75 years, in good health.{this matters so much more than wealth] I am one of the 'lucky generation' that had it good. Obviously one would like more, every body would want that, but I am perfectly content that what I have is enough for me to fund my chosen lifestyle. BJ is right. Income goes up, so does tax, but I am realistic enough to know that the Government has to get it's money from somewhere, even from me as an OAP. I have much sympathy with younger generations who have a much harder time than I.

[C24]

Me thinks that you have not read the small print on your pension agreement BJ.

Pensions are generally not designed to give an increase merely to keep pace with inflation. If you want more, go out and obtain gainful employment and pay tax as do most people.

[big john]

I spent 50 years of my life working hard and paying tax and paying for my pension, I am now enjoying the fruits of my labours.
My index linked pension was originally designed to keep pace with basic inflation, or that's how it was sold to me. The lump sum that came with it is meant to be invested to keep you ahead of that inflation, but when interest rates are low you tend to fall behind.
I am not sure how the government pension is worked out but the amount payed seems to be on the whim of the government of the day. But it takes care of the basics.

[C24]

BJ
The optional lump sum taken from a pension pot would not be sensible to use as an investment move, too many fees involved.
The better bet ('cos investment is just that) would be to leave the sum in the pot which would generate a larger pension, particularly of the pot was linked to an inflation linked pension.
some pensions, prior to the initial payout, can be taken at a higher annual payout but restricting the number of years of pension paid. That is, the pot is the same, just paid over a shorter period, anticipating an earlier death than expected for the age of the person at the time of starting the pension period.
My comments are not to be taken as advice. Merely my opinion.
Please enjoy your retirement. Like most, I'm sure that you have earned it and long may it run.

[reheat module]

Very much respect to those who have a pension and are enjoying the benefit of it.
In response to a point above, a quick Google check of Pension and triple-lock is a good educational read.
As the OP, I wrote to advise those ex-servicemen, currently drawing the Military Pension that the CPI release for Sep17 was released (3%). This value is used to determine the Military Pension variance for the following year April 2018.
This should also make good reading for State Pensions.
It won't allow fillet steak every night for everyone, but is a serious indicator to make provision and encourage saving for a pension...