‘Never paid pensioners more!’ Bad news for Britons as £500 state pension uplift rejected

Financial expert explains changes to the state pension

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State pensioners receive different sums dependent on numerous factors including National Insurance. However, the full new state pension is currently £179.60 per week, and a full sum of £137.60 per week for those on the older ‘basic’ scheme. 

Certain pensioners claimed this was not enough, and took to the Parliament website to make their opinions known.

But the calls appeared to fall on deaf ears as the Government rejected a proposal to increase the state pension sum by £500, outright.

The petition called for an increase of £500 as an “emergency measure” due to the rising cost of living.

It read: “Both old and new state pensions to be increased by £500 pa as an emergency measure to compensate for the suspension of the triple lock and to help pensioners cope with the cost-of-living crisis, including increases in energy and food prices. 

“The payment to be consolidated into future pension rates.

“A lump sum increase of £500 pa would cover the losses to pensioners caused by the triple lock suspension and help ensure millions of older people don’t have to choose between eating and heating this winter.”

While the Government acknowledged it wants all pensioners to have a “secure income” in retirement, it said it has no plans to enact a £500 increase.

Its statement replied: “We have never paid our pensioners more. This year, we will spend over £129 billion on the state pension and benefits for pensioners in Great Britain.

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“From April, the full yearly amount of the basic state pension will be around £720 more in 2022/23 than if it had been up-rated by prices since 2010. 

“That’s a rise of over £2,300 in cash terms.”

In response to pensioners’ dismay on the triple lock suspension, the Government has insisted this is a temporary measure.

Designed to be fair to “both pensioners and younger taxpayers”, the triple lock will be reintroduced next year for the remainder of Parliament.

Individuals of state pension age who are struggling with their finances have been urged to check their eligibility for Pension Credit.

The sum is designed to help low income pensioners with their day-to-day costs.

It tops up income to a minimum standard to help people with their finances. 

However, Pension Credit is also thought of as a “gateway benefit”, due to the fact it opens up those eligible to a wide range of support.

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This can include support with housing costs, council tax, heating bills, and a free TV licence for over 75s.

Around 1.4million eligible pensioners across the country receive Pension Credit, but many more could be missing out.

Dennis Reed, director of over 60s campaign organisation Silver Voices, said in response to the rejection of his petition: “This Government response to our petition defies belief and shows ministers are in complete denial about the impact of surging energy and food prices on poor pensioner households. It amounts to rubbing the noses of our older generations in the cost-of-living crisis and telling us to ‘suck it up’ and stop moaning.

“As other pensioner organisations, we are being flooded with emails of desperation from older people who do not know how they will cope.

“We will continue to push our petition as a campaign focus for emergency action by the Government. There is still time before April 1 for the plight of pensioners to be recognised.”

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