Delivering decent pensions in Bridgend

February 14, 2012 2:44 PM
By Peter Black in Seaside News
Originally published by Peter Black and South Wales West Liberal Democrats

In the Westminster Autumn Statement in November the Chancellor of the Exchequer announced that, as of April 2012, the basic state pension will increase by £5.30 per week, the largest ever cash increase for pensioners.

Due to Liberal Democrat influence a clause was put into the coalition agreement that every pensioner should get a guaranteed rise in their state pension according to a set formula.

This means that this year 31,080 people in Bridgend will get a rise of £5.30 a week, totalling £8,565,848 of extra money for the local economy..

The Liberal Democrats have restored the link between the basic State Pension and earnings broken by Thatcher. Labour had thirteen years to do it themselves and did nothing. The earnings link alone will give the average pensioner an extra £15,000 during their retirement.

Many pensioners will remember the pitiful rise in the state pension of 75p under the last Government, which many found insulting. This new flat rate will particularly benefit women and will ensure future pensioners have the guarantee of a decent future, something the Liberal Democrats have been campaigning on for years and are now delivering in Government.

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