LOCAL MP Michael Moore has welcomed news that the 23,900 pensioners in the Borders are set for a boost in their State Pension next year.

Due to the Coalition’s ‘Triple Lock’, the State Pension is to rise by around double the rate of inflation.

The UK Government has confirmed that from April 2015, all pensioners are to see a 2.5% increase in their State Pension, taking the weekly payment up to £115.95, an increase of £2.85 per week. The guarantee for single people will be pushed up to £151.20.

The Coalition’s ‘Triple Lock’ policy commits the government to an annual rise to the basic State Pension of whichever is highest out of the rise in inflation, the rise in average earnings, or 2.5%.

Commenting, Mr Moore said: “The Liberal Democrats long-campaigned for fairer pensions and I am extremely proud that as part of the Coalition Government, we secured the Triple Lock which ensures that pensions rise at a decent rate.

“We have nearly 24,000 pensioners in the Borders who have contributed and continue to contribute to our local communities and our economy and it is right that we ensure they receive a decent pension.

“Thanks to the Triple Lock, the basic State Pension will be £560 per year more than if it had been just uprated by earnings since 2010. This is making an important difference to local pensioners as they pay their bills and run very tight household budgets.

“As part of the UK, Borders pensioners enjoy the certainty, security and crucial safety net which the State Pension provides and I am glad that they can look forward to a rise at double the rate of inflation next year.”