Suspension of triple lock on pensions slammed by MP
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Gordon MP Richard Thomson has criticised the suspension of the triple lock by the UK Government which new research has shown is costing pensioners in the north-east nearly £500 per year.
House of Commons Library research concluded that the full rate for the New State Pension is currently £185.15 per week.
However, if pensions had instead been uprated in line with earnings, it would amount to £194.50 per week – equating to a loss of £9.35 per week, or £488 per year.
It follows separate analysis – again from the House of Commons Library – conducted in June, which revealed that UK pensions are the least generous in north-west Europe by comparison to the average wage.
Mr Thomson said: "This research is further compelling evidence that pensioners are being ripped-off by the UK Government.
“To date, under Westminster rule, UK pensioners have the least generous pensions in north-west Europe by comparison to the average wage – and this analysis shows things are only getting worse.
“At a time when households across the four nations are choosing between heating their homes and eating, to remove £500 from the pockets of pensioners is cruel and callous."