More than 16,400 people have signed a petition
The UK Government has said there are “no plans to make the State Pension available from the age of 60” or for payments to rise to £586 each week, responding to proposals outlined in an online petition. Over 16,400 people from across the UK have backed the petition, which appears on the Petitions Parliament website.
Petition founder Denver Johnson suggests boosting payments to match 48 hours weekly at the National Living Wage rate of £12.21 per hour. Such a rise would give more than 12 million people currently receiving the State Pension – plus those aged over 60 – £2,344 every four-week payment period, totalling £30,476 annually.
This increase would also extend to approximately 453,000 retirees whose State Pension remains frozen from the point of emigration because their current country of residence lacks a reciprocal agreement with the UK Government, reports the Daily Record.
In a written response to the petition on Monday, the Department for Work and Pensions (DWP) said: “The Government is committed to supporting current and future generations of pensioners and giving them the dignity and security they deserve in retirement.
“Our commitment to the Triple Lock through this Parliament will benefit over 12 million pensioners. From the end of this Parliament, spending on the State Pension as a result of our commitment to protect the Triple Lock is forecast to be around £31billion more a year, compared with 2024/25.”
The DWP has outlined how its system of state, private, and workplace pensions provides a solid foundation for retirement security. They emphasised the introduction of the New State Pension in 2016 as a “simpler, clearer, sustainable foundation” for private saving, including workplace pensions supported through Automatic Enrolment.
The DWP added: “The Government also takes seriously the need to ensure future retirees have a decent standard of living. That is why the Government have recently launched the Pensions Commission to ensure our pensions system delivers this in the decades ahead.”
They also highlighted that supplementary benefits such as Pension Credit can assist pensioner households on a low income. This means-tested benefit also unlocks additional support including help with housing and heating costs, Council Tax and free TV licences for over-75s.
Winter Fuel Payments will also be distributed to pensioners over 66 with an income at, or below £35,000. These payments will be issued throughout November and December, with letters advising of payment amounts being sent out from October.
The DWP concluded by saying: “Pensioners with a long-term health condition or disability may also be eligible for additional-costs disability benefits. In England and Wales these are Attendance Allowance, Disability Living Allowance and Personal Independence Payment.”
Responding to the petition’s proposals, the DWP said: “There are no plans to bring State Pension age back down to 60.
“Increases to State Pension age have been in legislation since the Pensions Act 1995 and there have since been a number of legislated increases to State Pension age introduced under successive Governments. As longevity has increased and our society aged, State Pension age rises have maintained fairness between generations and protected the public finances.”
The complete response can be found on the Petitions Parliament website. With 100,000 signatures of backing, the proposals would be examined by the Petitions Committee for potential Parliamentary debate.
Annual State Pension increases
Through the Triple Lock mechanism, State Pensions rise annually according to whichever proves highest among average annual earnings growth from May to July, Consumer Price Index inflation rate (CPI) in the year to September or 2.5 per cent.
The Triple Lock is presently set to be driven by the earnings growth component of 4.7 per cent (including bonuses).
The September CPI figures will be released on October 22 and are predicted to reach 4 per cent.
A 4.7 per cent increase on the existing State Pension would result in recipients getting the following sums.
Full New State Pension
- Weekly: £241.05 (from £230.25)
- Four-weekly pay period: £964.20
- Annual amount: £12,534
Full Basic State Pension
- Weekly: £184.75 (from £176.45)
- Four-weekly pay period: £739
- Annual amount: £9,607
Chancellor Rachel Reeves will confirm the annual uprating for the state Pension and benefits at the Autumn Budget on November 26.