Pension rise big boost in tough times

OVER 12 million pensioners will receive a vital financial boost this month as we deliver the biggest state pension increase in history.

Thanks to our triple lock, we will have put an extra £3,000 a year into pensioners’ pockets compared to 2010 for those on the basic state pension.

And the full rate of the new state pension will exceed £10,000 a year for the first time.

I understand the unique challenges pensioners face in dealing with rising prices and energy costs.

That’s why this increase is so important. Inflationary pressures and the long-term effects of the pandemic mean we are not yet out of the woods.

But as we continue to drive down inflation – halving it by the end of this year – this boost will ensure pensioners’ incomes are shielded.

We’re also increasing pension credit by 10.1 per cent, taking the standard minimum guarantee for a single person from £182.60 to £201.05.

For a couple, it goes from £278.70 to £306.85 per week – and we want you to help spread the word.

I urge Sunday Express readers with retired family and friends to see if they’re entitled to extra financial support through pension credit.

It not only provides a financial

‘We are doing all we can to help’

boost – worth on average £3,500 a year – but also opens doors to other benefits, including help with heating costs, housing benefit and a free TV licence for the over-75s.

But we know times are tough for everyone. So we are helping with £94billion in cost-of-living support – that’s around £3,300 per household.

And later this month, over eight million households will receive a cost-of-living payment worth £301.

This is the first of three DWP payments totalling up to £900 for the most vulnerable in our society.

We’ve always been clear the best way for people to improve their lives is through work but we know some people need additional support.

While we’re protecting people from rising prices with our 10.1 per cent increase to benefits, we’re also helping them grow their skills and progress their career through additional work coach support.

And our unprecedented increase will bring those on the National Living Wage and in full-time work an additional £1,600 a year.

Against the international economic headwinds we’re facing, this Government is doing everything we can to support pensioners, families and households across the country.