SCOTLAND’s pensioners are “being shafted once again” by the UK Government after the Tories broke a manifesto pledge to keep the triple lock on pensions, the SNP have said.
The news comes after the Office for National Statistics (ONS) confirmed that the state pension would rise by five percentage points less than would have been guaranteed had the Conservative government not reneged on its promise.
The triple lock was introduced to ensure that pensions rise every year by either 2.5%, in line with inflation, or in line with wage increases, whichever is highest.
This year, it would have gone up by 8.3% due to an increase in wages, but the Tories instead scrapped the triple lock. As such, people’s pensions will rise by 3.1%, in line with inflation.
READ MORE: UK Government 'betrayed' pensioners by scrapping triple lock, say SNP
Though the Government has yet to confirm the rates, inflation data from the ONS shows that the full new state pension will rise by £5.55 a week - instead of the £14.90 rise pensioners would have had under the triple lock. This equates to a difference of around £440 a year.
The basic state pension, received by those who reached pension age before 2016, will increase by £4.25 a week - instead of the £11.42 the triple lock would have guaranteed. This equates to a difference of around £373 per year.
The Conservatives scrapped the triple lock despite explicitly promising in their 2019 General Election manifesto not to do so.
In the same paragraph in their manifesto the party pledged to keep free TV licences for over-75s, which they have also since scrapped.
Commenting on the news, the SNP’s shadow work and pensions secretary David Linden (below) said: “Our pensioners are being shafted once again by this UK Government.
"They’ve had free TV licenses removed, the pension credit cut, women born in the 1950s were hit with a change in pension they were unable to financially prepare for, and now we see that scrapping the triple lock will leave them hundreds of pounds poorer.”
Linden, who represents Glasgow East at Westminster, went on: “It is shocking the way the Tories have treated pensioners over the past decade - and this is on top of presiding over one of the lowest state pensions in the developed world, and the lowest in North West Europe.
“Pensions may still be rising but only by a meagre amount when compared to the increase we could have seen if the triple lock had still been in place - and it will be of little comfort to people as they face the Tory-made cost of living crisis that has seen fuel and energy prices soar.
”I am urging the Chancellor to finally see reason and increase state pension to ensure our pensioners receive a dignified standard of living. But my hopes are not high given his track record, and it becomes clearer that the only way we can protect our pensioners in Scotland is with the full powers of independence.”
The UK Government will confirm the new State Pension payments in November.
A Department for Work and Pensions spokesperson said: “We’re committed to ensuring older people are able to live with the dignity and respect they deserve, and later this year we will confirm the new rate for State Pensions.
“The one off decision to temporarily suspend the Triple Lock ensures fairness for both pensioners and taxpayers – while also protecting pensioners’ incomes.”
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