New boost for pensioners hoping for £380 per week

State Pension: Expert outlines criteria to qualify

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

Pensioners in support of higher payments and a lower state pension age have landed a potential boost in their efforts to be heard. Thousands of people put their names to a petition calling for the state pension age to be lowered to 60, and payments to rise to £380 per week.

The petition was started in June, and became particularly popular as it was shared on the official Parliament website.

At the time of writing, some 101,512 signatures have been garnered in support of the petition.

This means it has met yet another official threshold – at which Parliament will consider the petition for debate.

Parliament considers all petitions which get more than 100,000 signatures for an official debate in the House of Commons.

It represents a potential huge step forward for those who are in support of state pension change.

However, as the Government has previously responded by stating it has “no plans to increase the state pension to £380 per week, or reduce state pension age to 60”, it may be a fruitless mission.

The petition has argued the current rates of state pension payments are “far too low”.

It continued: “We want the Government to increase the basic state pension to £19,760 a year (£380 a week), and extend this to anyone aged 60 or over. 

DON’T MISS

State pensioners could miss out on £930 inflation boost [INSIGHT]
Kwasi Kwarteng announces income tax cut U-turn – who is affected [ANALYSIS]
Inheritance tax could be slashed as ‘much-needed sweetener’ for Truss [LATEST]

“This should lift thousands out of poverty, and give our elderly folk more spending power and help grow the economy.

“The Government should restore the state pension age back to 60 for men and women, because people should not have to wait until their mid to late 60s to claim the state pension.

“Many people have worked from a young age, and their health deteriorates long before they are able to claim the state pension.”

In its official response upon the petition reaching 10,000 signatures, the Government outlined its viewpoint.

The Department for Work and Pensions (DWP) stated it is “committed to a decent state pension as the foundation of support for people in retirement”.

It also cited the various other forms of support for older people with their finances, other than the state pension.

This includes free bus passes, free prescriptions, Winter Fuel Payments and Cold Weather Payments.

The Government also stated it is helping low-income pensioners by encouraging them to claim Pension Credit.

What is happening where you live? Find out by adding your postcode or visit InYourArea

Pension Credit is currently one of the most underclaimed benefits in the UK, but according to the DWP could be worth £3,300 a year.

When it comes to the argument state pension age should be reduced, this has also been rebuffed by the DWP.

Its response read: “The state pension is funded through the National Insurance and tax contributions of the current working-age population. 

“Reducing the state pension age to 60 would therefore increase the tax burden of the current working-age population.”

Instead, the Government stated it would work on maintaining a balance between “affordability and sustainability of the state pension, and fairness between generations”. 

Source: Read Full Article