Nusrat Ghani, MP for Wealden, has welcomed the Government’s honouring of the Triple Lock, boosting the state pension by £900 a year for 41,112 pensioners in Wealden from today (8th April).
Since the Government introduced the Triple Lock, the state pension has increased by over £3,700, helping to lift 200,000 pensioners out of poverty and ensuring pensioners have dignity and respect in old age.
By sticking to the plan, and more than halving inflation from 11.1 per cent to 3.4 per cent, the Government has been able to uprate pensions by 8.5 per cent for people across Wealden. This follows a record 10.1 per cent increase in 2023-24.
The uprating of the state pension is in addition to further support pensioners receive such as Winter Fuel Payments and Cold Weather Payments to support with energy bills.
The 2024 Spring Budget also announced that National Insurance contributions will be cut to eight per cent, beginning on April 6th. Since Autumn 2023, National Insurance Contributions (NICs) for workers have been slashed by a third - the largest cut to NICs in history. Taken together with the cut to National Insurance announced last year, the Government has delivered a tax cut worth a total of £900 a year for a worker on the average salary of £35,400.
Nusrat Ghani said: “I am pleased that over 41 thousand pensioners in Wealden will have a boost to their state pension by £900 a year, ensuring that the older generations and elderly feel they have the support and respect they deserve. This 8.5% rise helps secure a brighter future for Wealden pensioners and their families, so they can continue to live their lives with dignity.”
