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Lib Dems will protect the Pensions Tripple Lock


14,700 pensioners living in Edgbaston will receive at least an extra £772 per year under Liberal Democrat manifesto plans to protect the 'triple lock' for state pensions.

The triple lock guarantee was introduced by the Liberal Democrats when they were in government.  Thanks to this, the basic state pension has risen in each year by whichever is the higher of earnings, prices or a rate of 2.5%. However, the Conservatives have refused to guarantee whether the triple lock will continue, raising fears it could be scrapped.

The Liberal Democrats have committed today to keeping the triple lock, meaning the state pension would be worth at least £137.15 a week by 2021, up from £122.30 in 2017, or an extra £772 a year.

This would be paid for in part by restricting perks such as the winter fuel allowance so they are no longer paid to the wealthiest pensioners.  In this way, the least well off pensioners will be protected by reducing tax free perks for the most well off.

Local Liberal Democrat candidate Colin Green said:

"Protecting the triple lock will mean an extra £772 a year by 2021 for the 14,700 people receiving the state pension in this constituency.  The Liberal Democrats are making a clear commitment to older people in Edgbaston, unlike the Conservatives who have repeatedly refused to give this guarantee.

"The triple lock has succeeded in lifting thousands of pensioners out of poverty, but many are still struggling to get by.  An important test of a civilised society is the way in which it cares for the elderly. This commitment will ensure older people are able to meet their basic needs and that their living standards will be protected, especially with prices set to rise in the coming years."


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