The Erewash MP has welcomed the Government’s honouring of the Triple Lock, boosting the State Pension by £900.00 a year for 22,579 pensioners in Erewash.
A statement issued by Maggie Throup OBE said that after halving inflation from 11.1 to 3.4%, the Government had been able to uprate pensions by 8.5 per cent for people across Erewash. This follows what was reported as a record 10.1 per cent increase in 2023-24. Both these increases are in line with inflation the previous September which is a Triple Lock criteria.
After the Conservatives came to power in 2010 and introduced the so called 'Triple Lock' the State Pension has increased by over £3,700.00, helping to lift 200,000 pensioners out of poverty and ensuring pensioners have dignity and respect.
Maggie said: “The Conservatives introduced the Triple Lock in 2011 to ensure those over the State Pension age receive dignity and respect in old age – it has helped lift 200,000 pensioners out of poverty.
“I am delighted the Government will boost the State Pension by £900.00 this year, increasing the income of 22,579 pensioners in Erewash.
“This will ensure pensioners’ incomes across Erewash are protected as the Government sticks to the plan and strengthens the economy, helping to secure a brighter future for pensioners and families across the country.”
The uprating of the State Pension is in addition to further support those over the State Pension age receive such as Winter Fuel Payments and Cold Weather Payments.
The Conservatives have also confirmed the Triple Lock will be in their upcoming manifesto, unlike the Labour Party who cannot say what they would do with pensions – causing uncertainty for millions of pensioners.