Local pensioners would receive at least an extra £790 per year by the end of the next parliament in 2020 under Liberal Democrat plans, says local MP Jo Swinson. These plans are expected to benefit 20,500 pensioners in East Dunbartonshire.
Thanks to the Liberal Democrats’ triple lock guarantee, the basic state pension has risen in each year since the General Election by earnings, prices, or 2.5%, whichever is the highest. The triple lock was a key demand from the Liberal Democrats in Coalition negotiations. These changes mean the state pension will be worth at least £131-a-week by 2020, up from just £97.65 four years ago.
The state pension is now £440 a year higher thanks to the Lib Dem triple lock than it would have been if payments had simply been increased by earnings since 2010. Only the Liberal Democrats are committed to write this guarantee into law, giving pensioners more certainty that their pension will continue to rise in future.
Commenting on the plans, East Dunbartonshire MP Jo Swinson said:
“Local pensioners deserve a decent income in retirement, and this policy is central to the Liberal Democrat vision of a fair society.
“For decades, successive Labour and Conservative governments allowed the state pension to decline after Mrs Thatcher broke the ‘earnings link’ in 1980. I am pleased that our manifesto promise of a ‘triple lock’ has now been implemented every year since 2010.
“But if we are serious about having a decent state pension we need to go further. That is why the Liberal Democrats will guarantee in law that in each year pensions will rise by earnings, prices, or 2.5%, whichever is the highest.”