North East pensioners will benefit from a 2.5 per cent increase in their state pension next year.
Liberal Democrat campaigner Julie Pörksen and Northumberland MP Sir Alan Beith have welcomed the increase, which was triggered under the Liberal Democrats’ Triple Lock on state pensions.
Figures out on Tuesday showed inflation was below target - meaning that the basic state pension will be boosted by 2.5 per cent next year.
The Triple Lock guarantee means pensions will increase with inflation, earnings or 2.5 per cent - whichever is highest – every year.
The most that a pensioner can currently get is £113.10, so that should rise by £2.85 to £115.93 per week.
Commenting on the inflation figures, Julie Pörksen said: “This is really good news for pensioners who will receive a 2.5% increase in their pension and I am pleased that we have been able to deliver this in government.
“The Berwick constituency has a high proportion of older residents. When I have been listening to people on the doorstep, there are some real worries about a sustainable pension system but also about making sure people can live on their pension.
“This year’s increase is in 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.”
Sir Alan Beith MP, Liberal Democrat MP for Berwick, added: “The Liberal Democrats pushed hard for the Triple Lock to be put in place. Inflation below the target is good news for everyone, but will help over 63,000 pensioners in Northumberland in particular as the Liberal Democrat flagship ‘Triple Lock’ policy will kick in to give an above inflation pension increase.”