I’ve always believed that how a society treats its elderly people is a measure of how fair a society is.
In our 2010 manifesto we had a policy called the ‘triple lock guarantee’ which re-established the link between pensions and earnings; a link that had remained broken under successive governments since Margaret Thatcher’s Government of 1980. We demanded it was part of the Coalition Agreement and have delivered it in Government.
This means that pensioners in Reading are guaranteed an annual rise by whichever is the higher of earnings growth, prices growth or 2.5%. The state pension is £440 higher per year in 2014-15 than if it had increased in line with earnings from the start of this Parliament, benefiting the 18,000 pensioners in Reading all thanks to the Liberal Democrat triple lock.
Liberal Democrats are committed to building a fairer society and protecting our elderly population not just in this parliament, but for every parliament in the future. That’s why we have pledged to write this ‘triple lock’ into law, guaranteeing that pensioners get this protection in the years ahead, going further than any of the other parties.
This is the latest in a long line of Liberal Democrat policies delivered in Government that help build and safeguard a fairer society. This 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 insecurity of unpredictable pension rises.