Millions of pensioners across the UK live on fixed incomes making them particularly vulnerable to rising prices. So the Government is giving over 12.5 million people across the UK will benefit from a 10.1 per cent increase in the Basic State Pension from April 2023.
Nearly 20,000 pensioners living in the Chipping Barnet constituency will automatically receive this uplift.
This increase is a the biggest ever cash increase in the state pension. In addition, pensioners will benefit from another £300 Pensioner Cost of Living Payment this winter, continuing the Conservative Government’s direct support for those groups most vulnerable to the effects of high inflation.
Commenting, Theresa Villiers said: “Pensioners have been hit by high inflation caused by the war in Ukraine, so it is vital that we protect their incomes from these pressures.
“I welcome the news that 18,199 pensioners in my constituency will be receiving the Conservative Government’s 10.1 per cent increase in the Basic State Pension from this month, protecting them from the effects of inflation as part of the Government's wider package of support to help people with rising household bills."
“This will give pensioners a much needed uplift in their incomes and ensure their pension is not devalued by the effects of global price rises.”
Pensions Minister, Laura Trott said: “The effect of rising prices has been particularly challenging for the most vulnerable pensioners many of whom live on fixed incomes.
“That is why the Conservative Government has delivered on our commitment to protect the Triple Lock, giving 12.5 million pensioners an inflationary increase in their pension payments of 10.1 per cent from April.
“Protecting pensioners’ incomes from the effects of rising prices is a central part of our Conservative commitment to supporting the most vulnerable as we deliver on the Prime Minister’s five priorities.”
