Basic state pension to rise


The basic state pension is set to rise by 2.5% next year thanks to a mechanism designed to make sure pensioners see more money in their pockets.

This will mean that 115,241 pensioners in Cornwall will receive the increase, which will bring the level of the state pension to at least £115.95 a week. This is £18.30 more, each week, than in 2010 when the Liberal Democrats entered coalition and means pensions on full basic state pension are £950 a year better off than they were under the last Labour government

The Liberal Democrat pensions "triple lock" means that the state pension rises every year by inflation, by average earnings or by 2.5%, whichever is higher. The triple locks means that despite low inflation rates, the rise in the pension next year will be at least £2.85 a week.

The Liberal Democrats campaigned for the pensions "triple lock" in opposition, achieved it in Coalition Government and are fighting to write it into law if they are in government after the General Election in May 2015.

Commenting, North Cornwall's MP Dan Rogerson said: "I am glad to see that pensioners are being treated with the respect they deserve. The triple lock ensures that pensioners are guaranteed the security of a steady rise in their pensions, allowing them to plan for their future and giving them dignity in their retirement.

I am glad that the Liberal Democrats have made sure that pensioners in Cornwall are never again subjected to the indignity of insulting rises as low as 75p a year that we saw under successive Conservative and Labour governments."

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