Lib Dems will keep pensions triple lock

THE Liberal Democrats today promise to keep the pensions “triple lock” in a move that piles pressure on Theresa May to match the pledge.

Tim Farron, the party’s leader, said it would ensure “none are left unable to meet their basic needs for survival”.

However, the party will scrap the winter fuel allowance for rich pensioners, citing support from the over-50s group Saga.

The triple lock ensures that the state pension increases each year by whichever is higher – inflation, wage growth or 2.5 per cent.

The Conservatives have adopted it during the party’s seven years in Government but Mrs May has refused to guarantee it will be in the next Tory manifesto.

The Lib Dems join Labour in making the promise, putting political pressure on Mrs May.

Mr Farron said: “The guiding principle of the pensions system must be to ensure that none are left unable to meet their basic needs for survival and participation in society, and that everyone is treated with the respect and dignity they deserve.

“The message is clear – we will help pensioners and the Conservatives won’t.”

The triple lock has been criticised by some campaigners as having served its purpose, with pensioner poverty dropping sharply in recent decades while working-age poverty increases.