Pension guarantee gives security

East London and West Essex Guardian Series: Pension guarantee gives security Pension guarantee gives security

I was pleased to see last week that Lib Dem pensions minister Steve Webb had announced that one of the biggest changes in the state pensions scheme in recent history was to be written into law.

There was outrage back in 2000, when pensioners got an insulting 75p rise from the Labour government.

Pensioners rightly felt cheated by a system that didn’t make having a pension worthwhile.

That’s why in 2010, the Liberal Democrat manifesto had a policy called the ‘triple lock guarantee’.

It was demanded it became part of the coalition agreement and in government the Lib Dems have changed the system for the better.

This means that pensioners in Waltham Forest are guaranteed an annual rise by either earnings growth, prices growth, or 2.5 per cent – whichever is highest.

The state pension is £440 higher per year in 2014 to 2015 than if it had increased in line with earnings from the start of this parliament, benefiting the 25,500 pensioners in Waltham Forest, all thanks to the Liberal Democrat triple lock.

Writing this Lib Dem policy into law will offer dignity and stability to current pensioners, as well as those coming up to retirement.

They will be able to better plan their futures knowing that they’ll no longer be faced with the fear that the cost of living might overtake their pensions increases.

Jamie Cook, Erskine Road, Walthamstow.

Comments (2)

Please log in to enable comment sorting

12:26pm Fri 18 Jul 14

MICHAEL MCGOUGH says...

LibDem Pensions Minister shafted women in their late fifties by unfairly deferring their state pensions. This broke para.7 of the coalition agreement
LibDem Pensions Minister shafted women in their late fifties by unfairly deferring their state pensions. This broke para.7 of the coalition agreement MICHAEL MCGOUGH
  • Score: -1

12:20pm Wed 23 Jul 14

ThirdMan says...

This is a generous interpretation of an isolated measure. Between 1997 - 2010 900,000 pensioners were lifted out of poverty through measures targeted at alleviating pensioner poverty, such as the winter fuel allowance. In comparison, rather than crafting a comprehensive strategy to address root causes of pensioner poverty, this government has chosen to offset the "triple lock" by introducing a bedroom tax which directly subverts any attempt improve the lot of poorer pensioners. No wonder there aren't any Lib Dem's left in Waltham Forest.
This is a generous interpretation of an isolated measure. Between 1997 - 2010 900,000 pensioners were lifted out of poverty through measures targeted at alleviating pensioner poverty, such as the winter fuel allowance. In comparison, rather than crafting a comprehensive strategy to address root causes of pensioner poverty, this government has chosen to offset the "triple lock" by introducing a bedroom tax which directly subverts any attempt improve the lot of poorer pensioners. No wonder there aren't any Lib Dem's left in Waltham Forest. ThirdMan
  • Score: -1

Comments are closed on this article.

click2find

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree