On 4 July, the country voted for a change of government. Since being elected to power, the Labour government has announced some policies it plans to implement around pensions and benefits for older people.
They’ve confirmed they intend to keep the State Pension ‘triple lock’ until there’s another election. This means that each year State Pensions will continue to increase by the highest of either inflation, average wage rises or 2.5%.
They’ve also made changes to the Winter Fuel Allowance meaning it will only be paid to lower income pensioners who are on Pension Credit or certain other benefits. The changes are planned to come into effect in 2024 in England and Wales.
There are an estimated 815,000 households that are eligible for Pension Credit but do not claim it. If you think this might be you, take a look at the pension credit government web page for more information.
If you’re concerned about money and bills, Age UK has help and advice available.