Pensioners 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 last week.

These changes mean the state pension will be worth at least £131-a-week by 2020, up from just £97.65 four years ago. The new plans would benefit 22,369 pensioners in Haringey.

Pensions have already risen every year since the Lib Dems entered Government in 2010, thanks to the Liberal Democrats’ triple lock guarantee. The triple lock was a key demand from the Liberal Democrats in Coalition negotiations.

The state pension is already £440 higher per year in 2014-15 than if it had increased in line with earnings from the start of this Parliament, and £800 a year more in total.

Only the Liberal Democrats are committed to writing this guarantee into law, giving pensioners more certainty that their pension will continue to rise in future.

Announcing the plan, Pensions Minister Steve Webb said:

“For decades, successive Labour and Conservative governments allowed the state pension to decline after Mrs. Thatcher broke the ‘earnings link’ in 1980.

“But we are serious about having a decent state pension. That’s why the Liberal Democrats will guarantee in law that in each year pensions will rise by the highest of wages, prices or 2.5%.

“The Liberal Democrat plans are in stark contrast to the Labour years, which on one occasion saw Gordon Brown increase the state pension by just 75p-a-week.”

Local MP Lynne Featherstone commented:

“A decent income in retirement for pensioners is central to the Liberal Democrat vision of a fair society.

“Our ‘triple lock’ guarantee for pensions has been implemented every year since 2010, and means that the state pension is already £800 more per year in total.

“It’s also great to hear the Lib Dem Pensions Minister confirm that continuing and committing to these reforms will be in our manifesto – and that over 22,000 pensioners in Haringey could benefit.”