Inflation in the month to September was recorded at 10.1 percent, in what is likely to be good news for state pensioners. This is because it is this measure which is likely to be used to dictate how much the state pension will rise next year under the triple lock mechanism.
However, while the bumper boost is likely to be welcomed, it will affect people in different ways.
It is thought approximately 10 million older pensioners will get some £226 less from the increase than newer, younger retirees.
Changes were introduced in 2016 which split the state pension into a two-tiered system – the basic, older state pension and the new state pension.
People can claim the basic state pension if they are a man born before April 6, 1951 or a woman born before April 6, 1953.
READ MORE: Millions could be missing out on benefit worth £3,624 a year
Posted on the official Parliament website it states: “The Government must increase state pension for men/women born before April 6, 51/53 to the same as those born after these dates.
“The gap of £2,500 between old/new state pensions is an absolute scandal. I missed the new pension by 14 days costing me £2,500 a year. This disparity has led to pauper pensioners.
“The cost of living is the same for all – not because of when you were born. Many affected by this really could do with the extra financial boost this will provide.”
The petition has thus far only garnered 34 signatures, meaning it currently falls well short of the 10,000 needed to trigger an official Government response.
The deadline for this petition is February 1, 2023, as all petitions on the Parliament website run for six months.
A DWP spokesperson previously told Express.co.uk: “This year we will spend over £110billion on the state pension and the full yearly amount of the basic state pension is now over £2,300 higher than in 2010, with 400,000 fewer pensioners in absolute poverty after housing costs in 2020/21 than in 2009/10.
“But we recognise the pressures pensioners are facing and all pensioner households will receive £300 to help them cover the rising cost of energy this winter, with those on Pension Credit getting a further £650 cost of living payment.
“This is in addition to the £150 council tax rebate and £400 discount on their energy bills.”
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
