State Retirement Pensions: Uprating
The question
To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the adequacy of the recent State Pension increase.
Answered by Torsten Bell
Ensuring a decent foundation State Pension for pensioners is a priority for this Government. That is why we have set out our commitment to the Triple Lock throughout this Parliament. As a result, spending on people’s State Pensions is forecast to rise by over £31 billion.
Through our commitment to the Triple Lock, from April the basic and new State Pensions will increase by 4.1%. This means that over 12 million pensioners will benefit from an increase of up to £470 to their State Pension from April this year. That’s up to £275 more than if pensions had been uprated in line with inflation.
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