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Member of Parliament for Bradford East@DavidWardMP on Twitter and Facebook |
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David Ward MP <>
Guaranteed rise in pensions will help 82,000 in Bradford - David Ward
April 6, 2011 10:03 AM
Bradford MP, David Ward, says Lib Dem's are delivering for pensioners
From today every pensioner will get a guaranteed rise in their state pension matching inflation, the increase in average earnings or 2.5%, whichever rate is highest.
This means that this year over 82,000 pensioners in Bradford will get a rise of £4.50 a week, totalling £19.4 million of extra money across the District.
This is the start of pension reform under this Government and follows Liberal Democrat Pension Minister Steve Webb's announcement on Monday that the Government will be introducing a flat-rate pension of £140.
It also coincides with raising the income tax threshold for all earners, which will lift nearly 900,000 people out of paying income tax altogether.
Commenting, David Ward said:
"During these difficult times, Liberal Democrats in Government are making a real difference for today's pensioners.
"Many pensioners will remember Labour's pitiful rise in the state pension of 75p, which was frankly insulting. This Coalition Government has given pensioners a guaranteed rise of inflation, an increase in average earning or 2.5%, whichever is the highest, from this year on.
"I know this will be a great help for the 82,000 pensioners in Bradford, as someone retiring today can expect to receive around £15,000 more in basic pension over the course of their retirement than they would have done under Labour."