- Millions of pensioners across the UK live on fixed incomes making them particularly vulnerable to rising prices as a result of high inflation.
- That is why over 12.5 million pensioners across the UK will benefit from the Conservative Government’s 10.1% increase in the Basic State Pension from April 2023 alongside our plan to halve inflation this year.
- This inflation-busting increase in the Basic State Pension ensures pensioners will not see their incomes devalued as the Conservative Government delivers on its five priorities including halving inflation.
Greg Hands MP has welcomed the news that 11,119 pensioners in Chelsea & Fulham will receive a 10.1% increase in their Basic State Pension from this month, protecting pensioners from the effect of rising prices.
This increase is the biggest ever cash increase in the state pension and will automatically be applied to pensioners’ payments, demonstrating the Conservative Government’s commitment to supporting pensioners in the face of rising prices.
In addition to this uprating, 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 caused by Putin’s illegal war in Ukraine.
This is helping to deliver on Prime Minister Rishi Sunak’s five priorities to halve inflation, grow the economy, reduce debt, cut waiting lists and stop the boats.
Commenting, Greg Hands said:
“Pensioners across Chelsea & Fulham have been directly affected by high inflation as a result of Putin’s illegal war in Ukraine, so it is vital that we protect their incomes from these pressures.
I welcome the news that 11,119 pensioners in Chelsea and Fulham will be receiving the Conservative Government’s 10.1% increase in the Basic State Pension from this month, protecting pensioners from the effects of inflation as we deliver on the Prime Minister’s five priorities.
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.”
Commenting, 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% 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.”