MP welcomes big rise in pensions thanks to commitment to ‘triple lock’ promise

A COUNTY MP has welcomed the increase in the state pension, which will affect thousands of his constituents.

Dr Luke Evans, pictured, Conservative MP for Bosworth, was a supporter of the largest ever rise in Basic State Pension for the 22,765 pensioners across his constituency.

The increase comes into effect following Chancellor Jeremy Hunt’s commitment to the pensions “triple lock” in November last year, as the government announced an increase of 10.1 per cent.

Under the ill-fated Liz Truss Premiership, there had been talk of the commitment being ditched as she asked ministers to look for spending cuts.

The “triple lock” was introduced by the coalition government in 2010 as a guarantee that the state pension would not lose value in real terms, and that it would increase at least in line with inflation.

To make the guarantee even more secure, it included three separate measures of inflation, meaning that the pension would increase by the greatest of the following three measures:

■■Average earnings

■■Prices, as measured by the Consumer Prices Index (CPI)

■■2.5 per cent

With inflation having risen sharply, fuelled by rising energy prices, it means the pensions increase is the biggest ever single cash rise.

It will automatically be applied to pensioners’ payments.

Dr Evans has also called on pensioners across Hinckley and Bosworth to check their eligibility for Pension Credit, which is worth an extra £3,300 on average per year.

Pension Credit is a top-up for the most vulnerable pensioners.

As well as a cash top-up to the state pension, qualifying for Pension Credit helps the elderly access a range of other benefits, such as help with housing costs, council tax reduction schemes, heating bills and a free TV licence for over-75s.

Pension Credit can be claimed online, by telephone or by post.

Information is available on the Gov. uk website or by calling the Freephone Pension Credit claim line on 0800 99 1234.

Dr Evans said “Last year I repeatedly raised the importance of honouring the commitment to the ‘triple lock’ with both the Chancellor and Pensions Secretary, so I’m pleased that the promise to support thousands of pensioners across our community has been kept.

“This will give pensioners a much needed uplift in their incomes and ensure their pension is not devalued by the effects of global price rises and is part of wider support for example, where the government has been subsiding households energy bills over the winter.

“If you think you or a loved one may be eligible for Pension Credit, please check your eligibility.”

Laura Trott MP, Pensions Minister, said: “The effect of rising prices has been particularly challenging for the most vulnerable pensioners, many of whom live on fixed incomes.

“That is why the government has delivered on our commitment to protect the ‘triple lock’, giving 12.5 million pensioners an inflationary increase in their pension payments of 10.1 per cent. Protecting pensioners’ incomes from the effects of rising prices is a central part of our commitment to supporting the most vulnerable.”