It was announced yesterday that Conservatives are helping savers by increasing the state pension in real terms, giving pensioners more security in retirement.

Next year pensions will go up by 2.5 per cent – more than twice the rate of inflation – giving pensioners more security in retirement.

The Conservative triple lock ensures the state pension rises every year in line with wages, prices or by 2.5 per cent – whichever is highest.

Since 2010, Conservatives have increased the state pension by £800 and are committed to keeping the triple lock beyond the next election.

But that’s only possible because we’re taking difficult decisions as part of our long-term economic plan which is providing pensioners with economic security and independence to plan for the future.