Cost of Living Payments: Pensioners

(asked on 14th December 2022) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, if he will make an assessment of the adequacy of the cost of living payments for pensioners who are in receipt of State Pension but not Pension Credit.


Answered by
Laura Trott Portrait
Laura Trott
Chief Secretary to the Treasury
This question was answered on 19th December 2022

The Government understands the pressures people including pensioners are facing with the cost of living and has taken further decisive action to support people with their energy bills. The Government’s Energy Price Guarantee, running from October 2022-March 2023, will save a typical British household around £900 this winter, based on what the energy price would have been under the current price cap – reducing bills by roughly a third. This is in addition to over £37bn of cost of living support announced earlier this year which includes the £400 non-repayable discount to eligible households provided through the Energy Bills Support Scheme.

To ensure stability and certainty for households, the Government is providing a further £26bn in cost of living support for 2023/24.

The Government recognises the rising costs felt by all pensioners and therefore nearly 12 million pensioners will benefit from a 10.1% increase to their State Pension payments from April 2023, under the Triple Lock.

Pensioner households have received a £300 Cost of Living payment in 2022/23. In 2023/24 a further Cost of Living payment will be made. More than eight million pensioner households will receive an additional £300 to help with bills.

Pensioners can also benefit from the discretionary Household Support Fund for which the government has provided total funding of £2.5 billion.

This is a substantial package of support which recognises the current additional costs faced by pensioners.

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