POLL: Should DWP lower the State Pension age to 60? | Personal Finance | Finance
A petition has been set up urging the Labour Government to lower the state pension age to 60 and hike the benefit to almost £30,000.
Those behind the petition want the state pension to be the equivalent of working 48 hours at the National Living Wage.
They say from April a universal state pension should amount to £549.12 per week, or £28,544.24 a year as a right for all those aged 60 and above, as well as expats.
The petition was launched on Parliament’s petitions website and has six months to go before reaching its May 26 deadline.
At the time of writing, the petition had amassed more than 5,800 signatures. At 10,000 signatures, the Government will have to respond to the petition, but at 100,000 the petition will be considered for debate in Parliament.
Its creator writes on the petition page: “We think that Government policy seems intent on the State Pension being a benefit, while increasing the age of entitlement.
“We want reforms so the state pension is available from age 60, and linked to the National Living Wage.”
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The full rate of new state pension is £221.20 a week. Amounts vary depending on your National Insurance record. The full basic state pension is £169.50 per week.
Men born on or after April 6, 1951, and women born on or after April 6, 1953, get the new state pension. Again, how much of the basic state pension you get depends on your National Insurance record.
Following a separate petition demanding the reversal of cuts to the Winter Fuel Payment for pensioners, the Department for Work and Pensions (DWP) has responded. This year, due to changes in eligibility criteria announced by Chancellor Rachel Reeves, an estimated 10 million pensioners are expected to lose out on the Winter Fuel Payment.
Previously, all individuals over the state pension age were eligible for the Winter Fuel Payments. However, under the new rules, only those receiving specific means-tested benefits like Pension Credit will qualify.
Labour has defended the move to means-test the payment as a necessary measure to tackle a £22 billion deficit left by the previous Conservative government. Despite this, charities have expressed concerns that the change could result in millions of elderly people facing poverty during the winter months.
In response to the petition, the DWP wrote: “The Government has no plans to reverse the means testing of the Winter Fuel Payment but is focusing on increasing Pension Credit take-up to ensure all eligible pensioners continue to receive support.”
