· 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 per cent 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.
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, Stephen Hammond MP said:
“Pensioners across Wimbledon 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 Wimbledon pensioners will be receiving the Conservative Government’s 10.1 per cent 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.”