Triple lock: North Shropshire pensioners lose out on £14.3 million in just three years

Analysis from Liberal Democrat MPs has shown that North Shropshire pensioners are set to lose out on £14.3 million over three years due to a change in government policy over payments.

Failing to implement the Triple Lock in 2024 would result in a hit of around £1.6 million for North Shropshire’s 26,000 pensioners.

North Shropshire MP Helen Morgan has claimed that the abandonment of the Triple Lock hits the least well off pensioners hardest, and has called for a full increase in state pensions to support people dealing with the higher costs of living in a rural area with petrol and harder to heat homes.

Helen Morgan, Liberal Democrat MP for North Shropshire said, “The abandonment of the Triple Lock by the government has hit the least well-off pensioners hardest, and has had a real human impact in rural areas where homes are harder to heat and a car is a necessity to get around.

“Our pensioners will have lost over £14 million over three years due to this change in policy. That is money not being spent on our high streets and supporting local businesses or to deal with the rising bills amidst the cost-of-living crisis. When you consider how few accessed off grid energy support, this all adds up.

“I’m supporting calls on the government to offer pensioners a fair deal and reintroduce the Triple Lock.”