PARLIAMENTARY WRITTEN QUESTION
State Retirement Pensions: Uprating (4 October 2024)

To ask the Secretary of State for Work and Pensions, if she will make an assessment of the potential impact of differential uprating levels for (a) the additional state pension under the old pension system and (b) other elements of the state pension on levels of pensioner poverty.

Asked by:
Wendy Chamberlain (Liberal Democrat)

The Secretary of State for Work and Pensions is required by law to undertake an annual review of State Pensions and benefits. Her review for this year will be based on CPI in the year to September 2024, and on earnings growth in the year to May-July 2024.

The Office for National Statistics will publish the average weekly earnings figure for May to July on 15 October and the CPI figure will be published on 16 October. The outcome of the review will be announced in the Autumn – and until the review has been concluded, it would not be appropriate to pre-judge the outcome. The new rates will take effect from April 2024.

The Government remains committed to supporting pensioners, and giving them the dignity and security they deserve in retirement. Through our commitment to protect the Triple Lock, over 12 million pensioners will benefit, with many expected to see their State Pension increase by over a thousand pounds over the next five years; the full new State Pension is forecast to increase by around £1,700 this Parliament.

Answered by:
Emma Reynolds (Labour)
15 October 2024