Labour has today stated its guarantee to provide pensioners with continued yearly income increases through the preservation of the triple lock policy.

Visiting Southward Pensioners Centre in South London today, Shadow Chancellor John McDonnell MP and Shadow Secretary for the Department of Work and Pensions Debbie Abrahams MP confirmed the Labour Party’s commitment to pensioners in Britain. The MPs claimed that the next Labour government will stand by the triple lock and other pensioner benefits.

Despite the Conservative government’s “shambolic handling of Brexit”, the Labour Party reassured those approaching retirement age that it will guarantee their incomes.

Labour Shadow Chancellor John McDonnell MP said: “After six wasted years of Tory economic failure that has seen some have to wait longer to receive their pension, and those in work approaching retirement having to work longer with earnings stagnating, Labour won’t let them face further uncertainty or reductions income.

"The OBR and Bank of England are projecting inflation to rise in the years ahead and with the Tory government all over the place on Brexit, there is too much uncertainty for those on fixed incomes such as pensioners.

"Those older people who voted for Brexit did not vote to see their incomes threatened as a result. Labour is instead committed to protecting pensioner incomes in our country, and we will provide the certainty that this government refuses to whether it is on the state pensions or the crisis in our care service.

McDonnell further criticised the new Chancellor Philip Hammond for failing to provide security for Britain’s older generation and his inability to “stand up to Tory politicians” who are in favour of scrapping the triple lock.

Labour Shadow Secretary for the Department of Work and Pensions, Debbie Abrahams MP, added: “This government is abandoning older people. They are failing to protect existing Defined Benefit pension agreements, failing to guarantee the triple-lock and failing to act on the injustices placed upon WASPI women by their chaotic state pension age equalisation.”

“Labour has already committed to extending pension credit to provide support to hundreds of thousands of the most vulnerable WASPI women, now we are committing to guaranteeing the triple lock under our watch.

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