Lib Dems commit to triple lock in pre-manifesto for next election

The Liberal Democrats have become the first UK party to commit to protecting the triple lock on pensions in the next Parliament, ahead of their Autumn Conference this weekend.

The Liberal Democrats are set to adopt their pre-manifesto for the next General Election on Sunday, which is expected to include a commitment to protect the triple lock, ensuring that pensions rise in line with inflation, wages or 2.5% – whichever is highest.

Neither the Conservatives or Labour have so far committed to protecting pensioners by keeping the triple lock in place.

300,000 pensioners have been lifted out of absolute poverty since the Liberal Democrats in government introduced the triple lock in 2010. However, the triple lock remains crucial including for the one and half million pensioners still living in absolute poverty across the UK.

The UK continues to have one of the lowest state pensions of any advanced economy. Pensioners are also being hit particularly hard by the cost of living crisis, facing disproportionately high energy bills.

Liberal Democrat Leader Ed Davey said:

“The Liberal Democrats are proud that we are the ones who brought in the triple lock, lifting thousands of vulnerable pensioners out of poverty. And we are proud to be the first UK party to commit to keeping it in future.

“The endless flip flopping by the Conservatives and Labour Party on this issue is causing huge anxiety for pensioners already worried sick about how to pay the bills.

“We will commit to keeping the triple lock in place, giving pensioners the security of knowing it will be there to support them in future years.

“Pensioners should not be made to pay the price for years of economic mismanagement under the Conservatives.”