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OVER 50,000 STOCKPORT PENSIONERS TO BENEFIT FROM LIB DEM MANIFESTO PLEDGE

July 2, 2014 9:44 AM

PENSIONERS in Stockport would be guaranteed to earn at least an extra £790 per year by the end of the next parliament under Liberal Democrat manifesto plans, Pensions Minister Steve Webb announced today.

Under the Liberal Democrats' plan the state pension will rise to at least £131-a-week by 2020, up from just £97.65 four years ago.

Commenting, local MP Andrew Stunell said -

"This will put into law what we have already been delivering in government: guaranteed automatic rises, restoring the value of the state pension and a direct benefit for Stockport's 51,000 pensioners."

Announcing the plan, Pensions Minister Steve Webb said:

"A decent income in retirement for pensioners 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. Our manifesto promise of a 'triple lock' has been implemented every year since 2010 and means that the state pension is already a higher share of the national average wage than at any time since the early 1990s.

"But we need to go further. That is why the Liberal Democrats will guarantee in law that in each year pensions will rise by the highest of wages, prices or 2.5%."

Stockport pensioners are already gaining from the triple lock guarantee, a key demand from the Liberal Democrats in the 2010 Coalition negotiations, with a rise of £800 a year since then.

Welcoming the move, Lisa Smart, Prospective MP for Hazel Grove said:-

"Only the Liberal Democrats are committed to write this guarantee into law, giving pensioners certainty that their pension will continue to rise in future. It's in stark contrast to the Labour years, when Gordon Brown once increased the state pension by just 75p-a-week."

Official estimates are that state pensions would rise by a further £790 per year by the end of the next Parliament, with full state pensioners on at least £6,800 in 2020.