- Millions of pensioners across the UK live on fixed incomes making them particularly vulnerable to rising prices as a result of high inflation.
- That is why over 12.5 million pensioners across the UK will benefit from the Conservative Government’s 10.1 per cent increase in the Basic State Pension from April 2023 alongside our plan to halve inflation this year.
- This inflation-busting increase in the Basic State Pension ensures pensioners will not see their incomes devalued as the Conservative Government delivers on its five priorities including halving inflation.
Bim Afolami MP has welcomed the news that 18,138 pensioners in Hitchin, Harpenden and the villages will receive a 10.1 per cent increase in their Basic State Pension from this month, protecting pensioners from the effect of rising prices.
This increase is a the biggest ever cash increase in the state pension and will automatically be applied to pensioners’ payments, demonstrating the Conservative Government’s commitment to supporting pensioners in the face of rising prices.
In addition to this uprating, pensioners will benefit from another £300 Pensioner Cost of Living Payment this winter, continuing the Conservative Government’s direct support for those groups most vulnerable to the effects of high inflation caused by Putin’s illegal war in Ukraine.
This is helping to deliver on Prime Minister Rishi Sunak’s five priorities to halve inflation, grow the economy, reduce debt, cut waiting lists and stop the boats.
Commenting, Bim Afolami MP said:
“Pensioners across Hitchin, Harpenden and the villages have been directly affected by high inflation as a result of Putin’s illegal war in Ukraine, so it is vital that we protect their incomes from these pressures.
“I welcome the news that 18,138 pensioners in Hitchin, Harpenden and the villages will be receiving the Conservative Government’s 10.1 per cent increase in the Basic State Pension from this month, protecting pensioners from the effects of inflation as we deliver on the Prime Minister’s five priorities.
“This will give pensioners a much needed uplift in their incomes and ensure their pension is not devalued by the effects of global price rises.”
Commenting, Pensions Minister, Laura Trott said:
“The effect of rising prices has been particularly challenging for the most vulnerable pensioners many of whom live on fixed incomes.
“That is why the Conservative Government has delivered on our commitment to protect the Triple Lock, giving 12.5 million pensioners an inflationary increase in their pension payments of 10.1 per cent from April.
“Protecting pensioners’ incomes from the effects of rising prices is a central part of our Conservative commitment to supporting the most vulnerable as we deliver on the Prime Minister’s five priorities.”
ENDS
Notes to Editors
- The Conservative Government is protecting the State Pension Triple Lock and uprating benefits in line with inflation, delivering the biggest State Pension increase in history. The State Pension and other benefits will rise by 10.1 per cent this April following the Chancellor of the Exchequer’s announcement that pensions and benefits will rise with inflation (HMT, Autumn Statement 2022, 17 November 2022, link).
- The Conservative Government’s inflationary increase in the Basic State Pension is the biggest ever cash increase in payments for pensioners. The Conservative Government’s 10.1 per cent increase in the Basic State Pension is worth £870 to pensioners, the biggest ever cash increase in the state pension (HMT, Autumn Statement 2022, 17 November 2022, link).
- The Conservative Government are providing pensioners in receipt of the Winter Fuel Payment with a further £300 Cost of Living Payment this year, helping them to heat their homes. Pensioners received a £300 Cost of Living Payment as part of their Winter Fuel Payment last year and they will receive a further payment of £300 in 2023 (DWP, Guidance, 8 November 2022, link; HMT, Autumn Statement 2022, 17 November 2022, link).
- The Conservative Government have introduced the Energy Price Guarantee to keep bills as low as possible, giving all households across the UK certainty on energy prices. This Guarantee will help to keep household energy bills as low as possible meaning the typical household will pay £2,500 for their bills until the end of June this year (PMO, Press Release, 8 September 2022, link).
- The Conservative Government provided households in receipt of means tested benefits with £650 in Cost of Living Payments last year, targeting support at the most in need. Households in receipt of means tested benefits including Universal Credit and Pension Credit received £650 in Cost of Living Payments last year and will receive a further payment of £900 this year (DWP, Guidance, 20 October 2022, link; HMT, Autumn Statement 2022, 17 November 2022, link).
