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Legal, pensions and money

State Pension increase

(16 Posts)
LuckyFour Sat 14-Oct-23 12:41:42

My husband has just received notification from the pensions department that he will receive an increase in his state pension when he turns 80 (coming soon). He will get an extra 25pence a week. Why did they bother, it isn't even enough for a couple of apples and we would have to save up over two months to buy a loaf of bread. I was furious. We have never asked for anything in our lives, we've always worked and brought up two children who have always worked. I am disappointed and feel insulted.

Georgesgran Sat 14-Oct-23 12:52:43

Personally, I don’t see the need to award 25p on reaching 80 in the first place.
It’s worth remembering we’ve just had a 10% increase in DWP this year and heading for an additional 8% next.
Perhaps you could look at Pension credit if your income is very low - much goes unclaimed.

I don’t want to get into an argument about UK pensions being lower than Europes, etc etc - just replying to the OP

Germanshepherdsmum Sat 14-Oct-23 12:54:20

This is called the Age Addition and was introduced in 1971 by the then Conservative government. The amount has never changed but it has been retained so that it can easily be adjusted at some point. Everyone gets this at 80 and of course it’s not worth much today but I don’t know why you should feel furious or insulted.

Georgesgran Sat 14-Oct-23 12:55:39

Thanks GSM for putting a name to it.

karmalady Sat 14-Oct-23 12:57:22

Ahh that makes sense GSM, thank you

Germanshepherdsmum Sat 14-Oct-23 13:01:36

Thanks Georgesgran for reminding the OP about the increase we’ve just had and next year’s too.

annsixty Sat 14-Oct-23 13:44:05

Has next year’s increase been announced yet?
I thought I had read that the government was trying to reduce it somehow by tinkering with figures which would decrease the amount indicated by the triple lock.
I can’t remember the details.

LOUISA1523 Sat 14-Oct-23 15:34:44

Next week i think

Maria59 Sat 14-Oct-23 16:13:07

Next years increase will be announced in the Chancellor's autumn statement 22 November. Until then we have constant speculation in the media which serves little purpose other than worry those struggling to make ends meet.

Primrose53 Sat 14-Oct-23 19:26:36

If you are really struggling, look at Pension Credit.

On the positive side you get bus passes, discounts at hairdressers/barbers, concessions at cinema, theatre, coach trips, extra winter fuel payments. There are loads of places now doing free lunches and afternoon teas where you can meet other people.

Franbern Fri 20-Oct-23 09:03:22

LuckyFour do not understand why you are 'furious'. Not as if your husband is being treated any differently to all of us. At 80 we are given this magnificent extra 25p per week extra. When I received mine, it was then deducted (at the same amount) from the amount I received for Pension Credit, so got nothing extra when I was 80 years old.

As has been said, GB State Pensions are the lowest in Europe and despite those on here who tell us how wonderful it was that we received 10% last year, this did not make us any better off, as prices had risen by this amount and more in the preceding year.

Charleygirl5 Fri 20-Oct-23 09:12:49

Being a cynic, we will get a decent increase next year only because there will be a general election and our age group will be the main voters.

Jane43 Fri 20-Oct-23 09:15:49

We’ve had it this year too, I object to them sending us both a letter about it which is an unnecessary expense. Most people these days have mobile phones or email and the practice of sending letters when there is an alternative means of communication is outdated as is the rise itself; like the £10 Christmas bonus the 25p rise at 80 is an anachronism and should be stopped.

Jane43 Fri 20-Oct-23 09:20:21

Charleygirl5

Being a cynic, we will get a decent increase next year only because there will be a general election and our age group will be the main voters.

The rise is related to the triple lock ruling although it in the 2022/23 tax year the earnings part of the triple lock was ignored as earnings had increased dramatically . I understand the rise for 2024/25 will be 8.5%.

Charleygirl5 Fri 20-Oct-23 10:45:33

Jane43 I understand that but the Tories would like to get rid of the triple lock because there are too many of us and it is costing too much money.

Floradora9 Fri 20-Oct-23 16:24:21

It is as daft as the Christmas bonus at £10 .