State Retirement Pensions: Newcastle-under-Lyme
The question
To ask the Secretary of State for Work and Pensions, what steps he is taking to maintain the level of the state pension in real terms for pensioners in Newcastle-under-Lyme.
Answered by Torsten Bell
Ensuring a decent State Pension for pensioners as a foundation for a secure retirement is a priority for this Government.
The Government is committed to protecting the value of the State Pension in real terms. That is why, for the duration of this Parliament, we have committed to maintaining the Triple Lock, which increases the basic and new State Pension each year by the highest of earnings growth, price inflation or 2.5 per cent. This ensures that pensioners’ incomes keep pace with the cost of living and benefit from rising wages. In addition, Pension Credit is uprated in line with earnings, providing extra protection for pensioners on the lowest incomes. This year, the State Pension increased by 4.8%, boosting incomes for over 12 million pensioners.
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