Lib Dems pledge to enshrine state pension 'triple lock' into law

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The Liberal Democrats want to enshrine the ‘triple lock' on the state pension into law and raise the tax-free allowance to £12,500 as the party unveiled its manifesto ahead of next month's general election.

It said the move on the triple lock would guarantee "decent" rises in the state pension every year - or by at least £790 annually by 2020. Both factions of the current coalition government - the Conservatives and Liberal Democrats - have claimed credit for introducing the triple lock, which ensures the state pension rises every year by the highest of price inflation, earnings growth or 2.5%. In January last year, Prime Minister David Cameron pledged to keep the triple lock in place until at least 2020 if his party won the 2015 election. But the Liberal Democrats have promised to go...

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