Wolverhampton South West MP welcomes basic pension rate rise

Pensioners will receive an extra £870, as the State Pension and other benefits have risen this week by 10.1 per cent.

The increase will benefit 15,098 pensioners across Wolverhampton South West and will be automatically applied to pensioners’ payments. Pensioners received a £300 Cost of Living Payment as part of their Winter Fuel Payment last year and will receive a further payment of £300 this winter.

The MP said: “I welcome this inflation-busting increase in the Basic State Pension for 15,098 pensioners across Wolverhampton South West. It ensures that pensioners will not see their incomes devalued as the Government delivers on its five priorities, including halving inflation. Pensioners in Wolverhampton have been 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.”

Pensions Minister, Laura Trott added: “The effect of rising prices has been particularly challenging for the most vulnerable pensioners many of whom live on fixed incomes. That is why the Conservative Government has delivered on our commitment to protect the Triple Lock, giving 12.5 million pensioners an inflationary increase in their pension payments of 10.1 per cent from April.”