Chris Exley Money Geek

We’ve got the triple lock...

They say how great it is.

But the fact is:

The State Pension is not enough for most of us to live on.

It’s around 1/2 minimum wage - what the Government has determined is the smallest amount one should be expected to live on if they work full time.

So that leaves a gap...

How do you intend to fill it?

⚠️ This content is not financial advice and should be used for educational purposes only. We recommend you do your own research and consider taking personal advice before making any financial decisions.

How do you feel about these tax liabilities?

For me a few problems…

1) Fiscal drag - already it’s having an adverse impact on productivity imo. By 2031 it’s going to be bleak - something has to give.

2) £100k tax trap - loss of childcare, tax free childcare, personal allowance. Again madness - someone should not be worse off by working more.

Note: Child benefit tapers on income between 60 and 80k.

⚠️ This content is not financial advice and should be used for educational purposes only. We recommend you do your own research and consider taking personal advice before making any financial decisions.