Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, what steps he is taking to prevent pensioner poverty.
The Government is committed to supporting pensioners, ensuring they have financial security and dignity in retirement. From 6 April, both the basic and new State Pensions will increase by 4.8%, benefitting over 12 million pensioners by up to £575. Our commitment to maintain the Triple Lock throughout this Parliament – helping to raise the value of the State Pension over time – will see pensioners’ yearly incomes rising by up to £2,100.
Pension Credit continues to provide a vital financial safety net by guaranteeing a minimum level of income – called the Standard Minimum Guarantee – which will also increase by 4.8% from 6 April, protecting pensioners on the lowest incomes.
Crucially, receipt of Pension Credit also opens the door to a whole range of additional support, which is why maximising Pension Credit take-up is a key departmental priority. We have been running the biggest campaign to date encouraging pensioners and their families to check their eligibility and to apply.
Housing Benefit continues to support pensioners who rent, and pensioner homeowners on income-related benefits, including Pension Credit, may receive Support for Mortgage Interest to help with interest on eligible secured loans. And around nine million pensioners in England and Wales will benefit from a Winter Fuel Payment from Winter 2025/26.
From April, the new Crisis and Resilience Fund will provide a long-term mechanism for local authorities to support vulnerable households at risk of hardship. The Fund will provide a safety net for people on low incomes who face financial crisis, including unforeseen increases in essential costs, and need immediate support.
We have also revived the Pensions Commission, which will make recommendations to government on a future pensions framework that is strong, fair and sustainable - one that delivers financial security in retirement and supports those approaching retirement. The Pensions Commission is expected to publish an interim report this Spring.