Over 22,000 people in Haringey to get pensions rise

The basic state pensions will rise by at least £2.85 a week thanks to the Liberal Democrats triple lock. It means 22,369 pensioners in Haringey will benefit from an increase in their pension.

This rise will bring the level of the state pension to at least £115.95, and will benefit millions of pensioners across the UK. This is £18.30 more, each week, than in 2010 when the Liberal Democrats entered coalition. This means pensioners on the full basic state pension are £950 a year better off than they were under Labour.

The triple lock delivers a pension rise of whichever is the greater of average earnings, inflation or 2.5%, meaning pensioners across Haringey will see more money in their pockets.

The Liberal Democrats campaigned for it in opposition, have delivered it in Government and have pledged to write it into law in the next Parliament.

Commenting, Liberal Democrat Pensions Minister Steve Webb said:

“This is fantastic news and proof that the Liberal Democrats are delivering in government.

“Thanks to the triple lock commitment in our manifesto pensioners across the country have benefited from a substantial income boost this parliament.

“I am proud of this record of delivery and that we are the only party with a 2015 manifesto promise to write the triple lock into law.”

Commenting further, Lynne Featherstone MP said:

“Liberal Democrats are building a stronger economy and a fairer society, and that means treating pensioners with the respect that they deserve.

“Figures show that inflation is lower than expected. It’s good news for the economy and for pensioners too – as the triple lock kicks in and guarantees a 2.5% rise in the state pension. Without this guarantee, the rise in the state pension would have only been 1.2% – in line with current inflation rates.

“It’s a stark contrast to life under the Conservatives who broke the link between pensions and earnings in the Thatcher years, and life under Labour when pensioners were insulted with rises as low as 75p.”

Thousands of pensioners in Haringey set to benefit further from Lib Dem pension plans  

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.”

Lynne Featherstone MP welcomes pensions boost for 15,863 self employed people in Hornsey and Wood Green

Lynne Featherstone MPLocal MP Lynne Featherstone has welcomed the news that 15,863 self employed people in Hornsey and Wood Green will benefit from pensions reforms being debated by MPs this week, which will bring in a simpler, fairer state pension for future pensioners.

In the past, self employed people missed out on a higher state pension because they could not qualify for the second state pension, despite having paid National Insurance contributions all their lives. This left them in reliance on a basic state pension of just £107 a week.

Under the new system, introduced by Liberal Democrat Pensions Minister Steve Webb MP, anyone who has 35 years of working or caring will qualify for a decent, flat rate pension of £144 a week.

The reforms will also mean 750,000 women will get an average £9 a week extra within the first ten years of its introduction. The reforms will value unpaid caring work just as much as a high-flying city job.

Commenting, Lynne Featherstone MP said:

“I am delighted that these pension reforms, coming from a Liberal Democrat minister, will create a simpler and fairer state pension. For too long, hard-working self employed people and carers have been getting a raw deal, despite the incredibly valuable contribution they make to our economy.

“Now, the 15,863 self employed people in our area will be properly rewarded for their contributions and will not lose out later in life.

“This is especially good news as it comes alongside the Coalition’s triple lock, which has given pensioners the biggest cash increase ever in the state pension.

“I am proud to see the Liberal Democrats in Government restoring fairness and simplicity to our state pension system.”

 

Liberal Democrats this week give cash boost to Haringey's pensioners

Lynne Featherstone MP and Wood Green Pensioner Augustus Olufunwa who will see a boost to his pension in the new financial yearPensioners in Haringey are this week getting a better deal in their retirement, with a weekly increase of £4.50, compared to increases under Labour of a measly 75p, thanks to Lynne Featherstone MP and her Liberal Democrat colleagues in Government.

Liberal Democrats are also making sure future increases in pensions don’t fall behind, by restoring the all-important earnings link with pensions after 30 years. On top of that, Liberal Democrats have stopped Labour’s planned cut to cold weather payments, worth £25 a week, to make sure pensioners are not left out in the cold.

Lynne Featherstone MP comments:

“Pensioners have had it tough for a long time, with measly increase to their pensions year on year. Indeed one year, Labour increased the pension by a pitiful 75 pence.

“That’s a disgrace, and that’s why Liberal Democrats in Government have made sure pensioners get a better deal, despite the tough economic times.
“Haringey’s senior citizens will this week see a long overdue cash boost of £4.50 to their pension. And by restoring the earnings link, we have also made sure that pensions don’t fall behind like they have for the past thirty years.

“Respect, dignity and security: that’s what pensioners deserve, and that’s what we are delivering.”