New calls to increase State Pension to £416 each week and lower retirement age back to 60

An estimated 19.2 million families and 39.8 million individuals across Great Britain currently in receipt of State Pension or benefits from the Department for Work and Pensions (DWP) and HM Revenue and Customs (HMRC) will see their payments go up by 10.1 per cent later this year.

State Pension payments are set to increase by 10.1 per cent from April for merely 12.5 million people across Great Britain, including 992,052 living in Scotland. However, despite a record-breaking rise in payments of the contributory benefit, it is estimated that over 1.8 million pensioners are receiving less than £100 per week in State Pension payments.

The annual benefits uprating was approved in Parliament earlier this week, which means that most benefits and State Pension will rise by 10.1 per cent in April. During the debate before the Social Security Benefits Up-rating Order 2023 was passed, the SNP’s David Linden pressed for change within the Department for Work and Pensions (DWP).

State Pension currently provides essential financial support for 12.5 million older people across the country, including more than one million retirees living in Scotland. This regular payment is available for those who have reached the UK Government’s eligible retirement age, which is currently 66 for both men and women, and have paid at least 10 years' worth of National Insurance Contributions.

State Pension provides essential financial support for nearly 12.5 million older people across Great Britain, including 981,399 living in Scotland. This regular payment is available for those who have reached the UK Government’s eligible retirement age, which is now 66 for both men and women, and have paid at least 10 years' worth of National Insurance Contributions.

Two Scottish MPs have urged the UK Government not to make the same mistake with future State Pension age change communication that has been felt by millions of women born in the 1950s. Some 3.8 million women across Great Britain missed out on State Pension payments due to the change in retirement age from 60 to 65 between 2016 and 2018 and then to 66, for both men and women in October, 2020.

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An online petition calling on the UK Government to set a minimum level for weekly State Pension payments of £416.80 for everyone over the age of 60, arguing that the new rates from April are “far too low”, has passed the 10,000 signature threshold which triggers an official response. More than 17,330 people have already shown their support for the proposed changes.

People claiming their State Pension entitlement are set to receive an income boost of 10.1 per cent from April as part of the annual uprating from the Department for Work and Pensions (DWP). However, older people also claiming tax-free disability benefits including Attendance Allowance, Disability Living Allowance (DLA), Personal Independence Payment (PIP) and Adult Disability (ADP) could potentially see their income increase to over £1,500 per month.

State Pension currently provides essential financial support for nearly 12.5 million older people across the country, including some 981,399 retirees living in Scotland. This regular payment is available for those who have reached the UK Government’s eligible retirement age, which is now 66 for both men and women, and have paid at least 10 years of National Insurance contributions.

The UK Government’s second review of the State Pension age is due to be published in May. The latest review into the official age at which someone can retire, now 66 for both men and women, launched at the start of last year and is considering whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence.

People aged over-50 are facing a lifetime of financial insecurity after a recent report highlighted which age group is being hit the hardest by the cost of living crisis. Research from Edinburgh University’s Smart Data Foundry found economic inactivity rates have risen by a third for the over-50s age group since 2019.

More than 1.4 million people over State Pension age are receiving regular financial support for a health condition from the Department for Work and Pensions (DWP). Attendance Allowance is a benefit which currently provides 123,786 older people living in Scotland with daily living expenses of either £61.85 or £92.40 each week.

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