State pension to rise by £460 near year – but experts warn of catch amid Winter Fuel Payment row
3 months, 1 week ago

State pension to rise by £460 near year – but experts warn of catch amid Winter Fuel Payment row

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} The full UK state pension is expected to rise £460 next year, boosting the incomes for millions of pensioners. This is in line with the government’s commitment to the triple lock – reaffirmed by Labour – that ensures the state pension rises by one of three measures every year. The Government faces a potential backbench rebellion over plans to restrict the winter fuel payment to only the poorest pensioners Following the rise, the full, new flat-rate state pension will rise to £230.05 a week, or £11,962.60 a year. Most pensioners will Lily Megson, Policy Director at My Pension Expert said: “With the state pension set to rise in line with wage growth, this increase will offer some additional support for retirees who have struggled under huge financial strain in recent years.

Tax Pensioners Winter Fuel Payment State Email Increase State Pension Pension Rise  email  wage  fuel  row  winter  verifyerrors  state  experts  increase  payment  warn  pensioners  near  pension  rise  tax

History of this topic

As a ‘cuspy Waspi’ woman, I have another reason to be furious with Labour’s pensions betrayal
5 days, 20 hours ago

As a ‘cuspy Waspi’ woman, I have another reason to be furious with Labour’s pensions betrayal

The Independent  

I’ve always been pleased that I was born at the end of the Fifties. The final blow came yesterday when the work and pensions secretary Liz Kendall announced that we would get no compensation from the government for the changes, despite previous support from Labour politicians who backed the Women Against State Pension Inequality campaign. The first plan to change …

Revealed: How much your state pension will rise in the next five years... exposed by Budget smallprint
1 month, 2 weeks ago

Revealed: How much your state pension will rise in the next five years... exposed by Budget smallprint

Daily Mail  

The state pension is set to rise by just 15 per cent over the next five years – just half the increase that retirees have enjoyed over the past five years, figures hidden in the fine print of the Government’s official forecasts reveal. It means more than 12 million pensioners are set for a 4.1 per cent boost to the …

Budget 2024 summary: Key points from Rachel Reeves’s speech
1 month, 3 weeks ago

Budget 2024 summary: Key points from Rachel Reeves’s speech

The Telegraph  

State pension Under the Government’s “triple lock”, which Labour committed itself to during the election, Ms Reeves says the basic and state pension will be uprated by 4.1pc next year. This means: The first £325,000 of any estate can be inherited tax-free That rises to £500,000 if the estate includes a residence passed to direct descendants That also rises to …

Benefits rise to ‘barely touch sides’ of cost-of-living squeeze, experts warn
2 months, 1 week ago

Benefits rise to ‘barely touch sides’ of cost-of-living squeeze, experts warn

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. But if working-age benefits were uprated in line with …

Can you retire early… and live in comfort? A top money guru reveals what pension you need, whatever your age
2 months, 2 weeks ago

Can you retire early… and live in comfort? A top money guru reveals what pension you need, whatever your age

Daily Mail  

How much will a good retirement cost you? I told Miss Lolly I’d like to retire aged 60, just as long as I have enough money to feed me and my future pet cats.’ Miss Lolly says ‘Taking into account the £4,400-plus you already have in pensions, you can expect to get £8,405 per annum from age 65, along with …

Labour accused of ‘cruelty’ over winter fuel payment cuts as 780,000 pensioners to miss out
3 months, 1 week ago

Labour accused of ‘cruelty’ over winter fuel payment cuts as 780,000 pensioners to miss out

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Labour is facing growing pressure over its planned winter fuel payment …

Starmer sympathises with pensioners over winter fuel but dismisses Labour’s own claim 4,000 will die
3 months, 1 week ago

Starmer sympathises with pensioners over winter fuel but dismisses Labour’s own claim 4,000 will die

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sir Keir Starmer has claimed he “sympathises” with millions of pensioners …

Winter fuel payment axe is PASSED by the Commons despite Keir Starmer suffering Labour revolt - with MPs warning pensioners face riding on buses all day to stay warm
3 months, 1 week ago

Winter fuel payment axe is PASSED by the Commons despite Keir Starmer suffering Labour revolt - with MPs warning pensioners face riding on buses all day to stay warm

Daily Mail  

Labour was cleared to scrap the winter fuel payment for millions of pensioners today despite Keir Starmer suffering a Commons revolt. Minister Emma Reynolds risked stoking the row by telling the House that there are 'plenty of very wealthy pensioners' who do not need the handouts - which can be up to £300 Kicking off the debate in the Commons, …

Pensioner, 70, says he is 'scared for the winter' when he won't be able to pay for heating - as Labour prepares to scrap winter fuel allowance from millions of retirees
3 months, 2 weeks ago

Pensioner, 70, says he is 'scared for the winter' when he won't be able to pay for heating - as Labour prepares to scrap winter fuel allowance from millions of retirees

Daily Mail  

A pensioner has told how he is 'scared for the winter' because he can't afford to put the heating on, as Labour prepares to scrap the winter fuel allowance from millions. Simon Moss, a 70-year-old retired customer service assistant, is facing a harsh winter ahead in his cold housing association bungalow He is one of 11.8 million people in the …

Reported £400 pensions boost ‘cold comfort’ for retirees struggling this winter
3 months, 2 weeks ago

Reported £400 pensions boost ‘cold comfort’ for retirees struggling this winter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Jon Greer, head of retirement policy at wealth manager …

Rachel Reeves needs to raise billions and pensioners fear they are the target
4 months, 3 weeks ago

Rachel Reeves needs to raise billions and pensioners fear they are the target

The Telegraph  

Rachel Reeves’ decision to end winter fuel payments gave Britons a taste of who the Chancellor is likely to hit with higher taxes in her maiden Budget. When asked to define who a working person was, she declared: “Someone who goes out to work for their income.” That leaves owners of businesses and other assets and pensioners as likely targets. …

How retired baby boomers captured £1 in every £5 Britain spends
5 months, 4 weeks ago

How retired baby boomers captured £1 in every £5 Britain spends

The Telegraph  

Pensioners have been the biggest beneficiaries of 14 years under the Conservatives with more than £1 in every £5 spent by the Government going to the over-66s, a think tank has said. Sophie Hale from the Resolution Foundation said: “The combination of Britain’s big baby boomer generation retiring, and policies that have benefited pensioners the most, has meant that the …

What is the triple lock plus – and what could it mean for pensions?
6 months, 2 weeks ago

What is the triple lock plus – and what could it mean for pensions?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Paul Johnson, director of the respected Institute for Fiscal Studies, has said that the …

State pension 'will never be taxed under the Tories': Rishi Sunak moves to shore up support among older generation with 'Triple Lock Plus' vowing personal allowance will rise at same rate in £100-a-ye
6 months, 3 weeks ago

State pension 'will never be taxed under the Tories': Rishi Sunak moves to shore up support among older generation with 'Triple Lock Plus' vowing personal allowance will rise at same rate in £100-a-ye

Daily Mail  

Rishi Sunak moved to shore up Tory support among the older generation today as he declared that state pensions will never be taxed. Rishi Sunak said the plan would give pensioners 'peace of mind and security in retirement' as he took questions at an event in Stoke-On-Trent today In a round of interviews this morning, Work and Pensions Secretary Mel …

Labour will hit elderly with ‘retirement tax’, claim Tories
6 months, 3 weeks ago

Labour will hit elderly with ‘retirement tax’, claim Tories

The Telegraph  

Labour would hit the elderly with a “retirement tax”, the Tories have claimed, after Rachel Reeves refused to match their plan to keep the state pension tax-free. Laura Trott, the Chief Secretary to the Treasury, said Labour’s stance would mean thousands of retirees being dragged into paying income tax from 2027. Rishi Sunak promised to raise the income tax threshold …

Sunak’s new ‘triple lock plus’ pension pledge as Tories try to win back older voters
6 months, 3 weeks ago

Sunak’s new ‘triple lock plus’ pension pledge as Tories try to win back older voters

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} The Tories are …

What will the election mean for your pension: Is the state pension 'triple lock' safe?
7 months ago

What will the election mean for your pension: Is the state pension 'triple lock' safe?

Daily Mail  

Election under way: What pension promises will be made and will they be kept? State pension triple lock Labour and the Tories both promised before the election was even announced they would keep the state pension 'triple lock' for the whole of the next parliament. Yes No Do you believe whichever party wins the election will keep the state pension …

State pension increase: How much will payments go up in April with the triple lock?
8 months, 1 week ago

State pension increase: How much will payments go up in April with the triple lock?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} The state pension …

Benefits and pension triple lock: the 5 big money changes to know this April
8 months, 2 weeks ago

Benefits and pension triple lock: the 5 big money changes to know this April

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Jeremy Hunt poses with the red Budget box, 6 March …

Cost-of-living payment: Hundreds of thousands of people urged to check if they’re eligible for £299 from DWP
9 months, 4 weeks ago

Cost-of-living payment: Hundreds of thousands of people urged to check if they’re eligible for £299 from DWP

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Department for Work and Pensions said about 880,000 eligible …

Annual cost of moderate retirement up £8,000 amid rising living costs – research
10 months, 2 weeks ago

Annual cost of moderate retirement up £8,000 amid rising living costs – research

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The cost of living has put enormous pressure on …

Government should reform ‘costly’ triple lock to free up money, OECD says
1 year ago

Government should reform ‘costly’ triple lock to free up money, OECD says

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

State pension increase of 8.5% will be greeted with relief, say experts
1 year, 1 month ago

State pension increase of 8.5% will be greeted with relief, say experts

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. This huge increase is down to red hot wage …

Some pensioners ‘may have to set money aside for unexpected tax bills’
1 year, 2 months ago

Some pensioners ‘may have to set money aside for unexpected tax bills’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Any pensioner with a pension …

Pensioners could be set for inflation-busting state pension rise next April
1 year, 2 months ago

Pensioners could be set for inflation-busting state pension rise next April

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. As is the usual process, the Secretary of State …

Winter fuel allowance could be scaled back to cover triple lock costs – report
1 year, 2 months ago

Winter fuel allowance could be scaled back to cover triple lock costs – report

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rishi Sunak may cut the …

Boost for pensioners as both Labour and Tories pledge to protect triple lock
1 year, 5 months ago

Boost for pensioners as both Labour and Tories pledge to protect triple lock

The Telegraph  

The Tories and Labour have announced that they will fight the next general election on a promise to keep the pensions triple lock. The mechanism guarantees that the state pension goes up every year by whichever is higher of earnings, inflation - which remains stubbornly high at 8.7 per cent - or 2.5 per cent. Mel Stride, the Work and …

£670m of state pension underpayments recorded in financial year ending 2023
1 year, 7 months ago

£670m of state pension underpayments recorded in financial year ending 2023

The Independent  

Pension experts have made calls to drive up admin standards after it emerged that around £670 million in state pensions was underpaid in the financial year ending in 2023. Last year’s underpayments total was more than six times the £100 million that was overpaid in state pensions in the financial year ending 2023. The Department for Work and Pensions document …

State pension age could rise to 68 by ‘2040 or thereabouts’, says Mel Stride
1 year, 7 months ago

State pension age could rise to 68 by ‘2040 or thereabouts’, says Mel Stride

The Independent  

The Work and Pensions Secretary said the state pension age is not likely to be raised to 68 until the 2040s — but it is not a decision to be made by the current UK Government. It will be for somebody else to sift through the data in the next Parliament Mel Stride, Work and Pensions Secretary Speaking at a …

The old pension scheme as a burden on the poor
1 year, 9 months ago

The old pension scheme as a burden on the poor

The Hindu  

The demand for the old pension scheme is growing especially after a few States announced that they would be reverting to it. In consonance with the spirit of the National Pension System, the Sixth Pay Commission had substantially increased the basic salary of government employees to cover pension contributions and promote savings for post-retirement expenses. Rising pension liabilities The pension …

Martin Lewis’ state pension warning to anyone aged between 45 and 70
1 year, 9 months ago

Martin Lewis’ state pension warning to anyone aged between 45 and 70

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Martin Lewis has …

Full list of DWP revised weekly payment rates for 2023
1 year, 10 months ago

Full list of DWP revised weekly payment rates for 2023

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Following chancellor Jeremy Hunt’s Autumn Statement announcement that benefits and …

The savvy seniors getting £30,000 a year from their state pensions
1 year, 10 months ago

The savvy seniors getting £30,000 a year from their state pensions

Daily Mail  

The British state pension notoriously pays only a bare bones sum to live on in retirement. By contrast, retirees receiving the ‘full’ flat- rate state pension will get a boost of £972 a year, taking their annual income to a maximum of £10,600. Worth the wait: Someone on a basic pension plus Serps of £300 a week would be able …

Pension triple lock ‘unsustainable’ and must be scaled back, says IFS
1 year, 10 months ago

Pension triple lock ‘unsustainable’ and must be scaled back, says IFS

The Telegraph  

April's 10.1pc increase will boost weekly payments for those on the full state pension to £203.85. The IFS said: "On the eve of the pandemic, the working-age benefit bill made up 4.3pc of national income, while the pensioner bill accounted for 5.5pc. The IFS also said changes to working age benefits since the late 1990s had been successful in pushing …

State pension age set to rise to 68 in Treasury’s ‘big bazooka’ cash grab
2 years ago

State pension age set to rise to 68 in Treasury’s ‘big bazooka’ cash grab

The Telegraph  

The pension age will rise to 68 a few years earlier than planned, under government proposals. The age at which Britons receive their state pension is set to increase to 67 by 2028 and 68 by 2039, but ministers want to pull that forward to the mid-2030s. It would mean that people currently in their mid-50s having to wait a …

Rishi Sunak mulls suspending triple lock on state pensions
3 years, 4 months ago

Rishi Sunak mulls suspending triple lock on state pensions

The Telegraph  

Rishi Sunak is considering a temporary suspension of the Conservatives’ "triple lock" election manifesto commitment on state pensions that would save billions by linking this year’s rise to inflation instead. However, the impact of the furlough scheme last year is likely to leave wages more than 8pc higher than last year, adding more than £7bn to the state pensions every …

Rishi Sunak suggests he could SCRAP pensions 'triple lock'
3 years, 5 months ago

Rishi Sunak suggests he could SCRAP pensions 'triple lock'

Daily Mail  

Rishi Sunak today suggested that the 'triple lock' on pensions may have to be broken this year to avoid a £3billion hit to Covid-battered public finances. The Chancellor said concerns about the Government policy are are 'completely legitimate' amid concerns state pensions may rise by 8 per cent because of the pandemic. The triple lock guarantees that the state pension …

Surging cost of pensions triple lock piles more pressure on Chancellor
3 years, 5 months ago

Surging cost of pensions triple lock piles more pressure on Chancellor

The Telegraph  

Rishi Sunak is facing fresh pressure to scrap the triple lock on state pensions after the Government's own fiscal watchdog warned that retirement payments could surge this year in a £3bn hit to the public purse. The triple-lock, a Conservative manifesto pledge, guarantees state pensions rise by whichever is highest out of consumer price inflation, earnings growth of a 2.5pc …

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