Liberal Democrats in Government have introduced a ‘triple lock’ on pensions, which raises the state pension each year in line with prices, earnings or by 2.5% – whichever’s higher. It means pensioners are a record £15.45-a-week better off since the General Election.
Duncan and the Liberal Democrats are now campaigning to enshrine the ‘triple lock’ in law, to make sure people have a decent, secure income when they retire. Pensioners, including more than 85,000 in Wiltshire, would be guaranteed to receive at least an extra £790 per year by 2020. Read more.
Lib Dem Pension Minister Steve Webb is also replacing the current, complex system with a single, simple state pension of around £150 a week, and removing the need to be tied into buying annuities.