DWP State Pensioners to Receive £400 Extra Next Year
The Department for Work and Pensions announced that state pensioners are set to receive over £400 additional income next year. This increase is expected following the April triple lock, ensuring a rise in the full state pension for UK retirees. The internal figures seen by the BBC suggest that the state pension will be boosted by average earning figures, a change set to be confirmed next week.
- The triple lock guarantees that the state pension increases every April by the highest amount among inflation, wages, or 2.5%.
- The UK Government’s decision to cut the winter fuel payment has drawn criticism, affecting only pensioners on specific means-tested benefits.
- With millions losing this payment, the overall increase in income for affected individuals could be around £100 to £200.
The rise in the full state pension, if implemented, would see men born after 1951 and women born after 1953 receiving around £12,000 by 2025-2026. Retirees eligible for the secondary state pension before 2016 may witness a £300 annual increase in the basic state pension, potentially reaching £9,000 next year under the previous system.
Pensions Secretary Liz Kendall is expected to make the final decision on the uprating before the upcoming budget in October, with Chancellor Rachel Reeves affirming the government’s support for the triple lock until the end of the current parliament. The recent government decision to eliminate the winter fuel payment for most households was attributed to a £22bn financial shortfall.
- Campaigners and opposition parties argue that not enough support is being provided to pensioner households, particularly those living below the poverty line.
- Nearly half a million people have signed an online petition led by Age UK, urging the government to reconsider its decision.
- Liberal Democrat leader Sir Ed Davey has joined Conservatives in advocating for a parliamentary vote on this issue.
The proposed increase in state pension aims to alleviate the financial strain faced by retirees, especially amidst rising living costs and economic uncertainties. The government’s stance on pensioner welfare and financial aid continues to be a topic of debate and concern among various stakeholders and the general public.