Big Cash payment to Pensions

Today marks the biggest ever cash rise in the Basic State Pension in history. Thanks to this Government, millions of older people across our country will take home an extra £5.30 in their pensions this week. For thirteen years, Labour promised to restore the link between earnings and the state pension, but did nothing. This resulted in older people receiving paltry increases in their pension - as little as 75 pence one year. One of the first things we set about doing when we formed the Coalition was to address this unfairness. We didn't just restore the earnings link; we went further, with our 'triple lock', which guarantees that the Basic State Pension will always increase either in line with earnings, inflation, or 2.5 per cent - whichever is the highest. The triple lock ensures older people will have the income to live with dignity in retirement. It's worth £275 to pensioners this year. And the guarantee means that for the next three years, all of today's pensioners will be better off than they would have been under Labour. This state pension increase is another example of what the Conservatives are doing in Government - alongside protecting the Winter Fuel Allowance, free TV licences, free bus passes, free eye tests and prescriptions - to show that we are on the side of older people, putting an extra £4 billion into the Basic State Pension over the next three years. And we're still doing that despite the tough times we are facing as we clear up Labour's mess. We have made history, we've made life a bit easier for many millions of people, and that is something the Conservative Party should be proud of. Yours,