Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, if his Department will review the threshold to qualify for Pension Credit in the context of the increase in the level of inflation.

Following the conclusion of the Secretary of State’s annual up-rating review, subject to Parliamentary approval, the Standard Minimum Guarantee in Pension Credit will increase by 10.1% from April 2023. This is in line with the increase in prices in the year to September 2022 and it will also extend CPI protection to those who rely on the Standard Minimum Guarantee in Pension Credit at a cost of £700 million above the statutory minimum requirement.

Other elements of Pension Credit will also increase by 10.1%, including the additional amounts for disabled people and carers, and the threshold for access to the Savings Credit for those who reached State Pension age before April 2016.