{"id":1565,"date":"2024-09-06T08:20:14","date_gmt":"2024-09-06T07:20:14","guid":{"rendered":"https:\/\/www.redstarwealth.co.uk\/blog\/?p=1565"},"modified":"2024-09-05T16:39:01","modified_gmt":"2024-09-05T15:39:01","slug":"state-pension-increases-cuts-to-winter-fuel-payments","status":"publish","type":"post","link":"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/","title":{"rendered":"State Pension Increases &#038; Cuts to Winter Fuel Payments"},"content":{"rendered":"<p style=\"font-weight: 400;\">A lot of news has been released recently affecting pensioners, so let\u2019s have a quick run-down of what\u2019s going on\u2026<\/p>\n<h2 style=\"font-weight: 400;\">State Pension Triple Lock Increases<\/h2>\n<p style=\"font-weight: 400;\"><a href=\"https:\/\/www.bbc.co.uk\/news\/articles\/cewlqxv0n1qo\">The BBC has calculated<\/a> that the State Pension will almost certainly be increased by average earnings figures released next week.<\/p>\n<p style=\"font-weight: 400;\">The Triple Lock means that the State Pension increases every tax year by whichever of the following is highest:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">A 2.5% increase<\/li>\n<li style=\"font-weight: 400;\">In line with inflation, as measured by the Computer Prices Index in the September of the previous year<\/li>\n<li style=\"font-weight: 400;\">Average earnings across the UK<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">The BBC believe that the increase in April 2025 will be linked to average earnings, meaning it\u2019s expected to be worth at least \u00a3300 0r \u00a3400 depending on which state pension people are receiving.<\/p>\n<p style=\"font-weight: 400;\">These increases could see the full new State Pension reaching around \u00a312,000 in the 2025-26 tax year.<\/p>\n<p style=\"font-weight: 400;\">The decision on a pension increase will be made before the October budget by Liz Kendall, the secretary of state for work and pensions. However, the chancellor, Rachel Reeves confirmed at the start of this week that the government would continue to back the Triple Lock until the end of this parliament.<\/p>\n<h2 style=\"font-weight: 400;\">How the State Pension Works<\/h2>\n<p style=\"font-weight: 400;\">The amount of State Pension you get depends on your National Insurance (NI) record. To get any new State Pension, you have to have 10 qualifying years on your NI record. A qualifying year is one where you were<\/p>\n<ul>\n<li style=\"font-weight: 400;\">Working and making National Insurance contributions<\/li>\n<li style=\"font-weight: 400;\">Getting NI credits, e.g, if you were unemployed, ill, a parent, or a carer<\/li>\n<li style=\"font-weight: 400;\">Paying NI contributions voluntarily<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">The full rate of new State Pension is currently \u00a3221.20 a week, but the amount you get could be different depending on your number of qualifying years, whether you were contracted out before 2016, or if you aid into the Additional State Pension before 2016.<\/p>\n<h2 style=\"font-weight: 400;\">Winter Fuel Allowance Decisions<\/h2>\n<p style=\"font-weight: 400;\">There have also recently been discussions about limiting the Winter Fuel Payment. Rachel Reeves revealed plans last month to introduce means testing for this benefit, where only those on pensions benefit (a payment for those on an income less than \u00a312,600) would qualify.<\/p>\n<p style=\"font-weight: 400;\">This would reduce the number of pensioners receiving the payment from 11.4 million to 1.5 million.<\/p>\n<p style=\"font-weight: 400;\">For more information on claiming Winter Fuel Payment, <a href=\"https:\/\/www.gov.uk\/winter-fuel-payment\/how-much-youll-get\">click here<\/a>\u00a0and for more information on what State Pension you might be entitled to, <a href=\"https:\/\/www.gov.uk\/new-state-pension\/what-youll-get\">click here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A lot of news has been released recently affecting pensioners, so let\u2019s have a quick run-down of what\u2019s going on\u2026 State Pension Triple Lock Increases The BBC has calculated that the State Pension will almost certainly be increased by average earnings figures released next week. The Triple Lock means that the State Pension increases every [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":1566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1303],"tags":[173,142,1336,1334,1335,152,287,902,1333,153,663,284,1337,1338,1339],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>State Pension Increases &amp; Cuts to Winter Fuel Payments - Red Star Wealth<\/title>\n<meta name=\"description\" content=\"A lot of news has been released recently affecting pensioners, so let\u2019s have a quick run-down of what\u2019s going on\u2026\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State Pension Increases &amp; Cuts to Winter Fuel Payments - Red Star Wealth\" \/>\n<meta property=\"og:description\" content=\"A lot of news has been released recently affecting pensioners, so let\u2019s have a quick run-down of what\u2019s going on\u2026\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/\" \/>\n<meta property=\"og:site_name\" content=\"Red Star Wealth\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redstarwealth\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-06T07:20:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-05T15:39:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/pexels-pixabay-33786-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Red Star Wealth\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redstarwealth\" \/>\n<meta name=\"twitter:site\" content=\"@redstarwealth\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Red Star Wealth\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/\",\"url\":\"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/\",\"name\":\"State Pension Increases & Cuts to Winter Fuel Payments - Red Star Wealth\",\"isPartOf\":{\"@id\":\"https:\/\/www.redstarwealth.co.uk\/blog\/#website\"},\"datePublished\":\"2024-09-06T07:20:14+00:00\",\"dateModified\":\"2024-09-05T15:39:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.redstarwealth.co.uk\/blog\/#\/schema\/person\/1f2776f8faaab4f434de9e1253b3b442\"},\"description\":\"A lot of news has been released recently affecting pensioners, so let\u2019s have a quick run-down of what\u2019s going on\u2026\",\"breadcrumb\":{\"@id\":\"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Blog Home\",\"item\":\"https:\/\/www.redstarwealth.co.uk\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"State Pension Increases &#038; Cuts to Winter Fuel Payments\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.redstarwealth.co.uk\/blog\/#website\",\"url\":\"https:\/\/www.redstarwealth.co.uk\/blog\/\",\"name\":\"Red Star Wealth\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.redstarwealth.co.uk\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.redstarwealth.co.uk\/blog\/#\/schema\/person\/1f2776f8faaab4f434de9e1253b3b442\",\"name\":\"Red Star Wealth\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.redstarwealth.co.uk\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/Screenshot-2022-10-05-at-11.34.46.png\",\"contentUrl\":\"https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/Screenshot-2022-10-05-at-11.34.46.png\",\"caption\":\"Red Star Wealth\"},\"url\":\"https:\/\/www.redstarwealth.co.uk\/blog\/author\/lydia-b\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"State Pension Increases & Cuts to Winter Fuel Payments - Red Star Wealth","description":"A lot of news has been released recently affecting pensioners, so let\u2019s have a quick run-down of what\u2019s going on\u2026","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/","og_locale":"en_GB","og_type":"article","og_title":"State Pension Increases & Cuts to Winter Fuel Payments - Red Star Wealth","og_description":"A lot of news has been released recently affecting pensioners, so let\u2019s have a quick run-down of what\u2019s going on\u2026","og_url":"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/","og_site_name":"Red Star Wealth","article_publisher":"https:\/\/www.facebook.com\/redstarwealth","article_published_time":"2024-09-06T07:20:14+00:00","article_modified_time":"2024-09-05T15:39:01+00:00","og_image":[{"width":2560,"height":1707,"url":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/pexels-pixabay-33786-scaled.jpg","type":"image\/jpeg"}],"author":"Red Star Wealth","twitter_card":"summary_large_image","twitter_creator":"@redstarwealth","twitter_site":"@redstarwealth","twitter_misc":{"Written by":"Red Star Wealth","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/","url":"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/","name":"State Pension Increases & Cuts to Winter Fuel Payments - Red Star Wealth","isPartOf":{"@id":"https:\/\/www.redstarwealth.co.uk\/blog\/#website"},"datePublished":"2024-09-06T07:20:14+00:00","dateModified":"2024-09-05T15:39:01+00:00","author":{"@id":"https:\/\/www.redstarwealth.co.uk\/blog\/#\/schema\/person\/1f2776f8faaab4f434de9e1253b3b442"},"description":"A lot of news has been released recently affecting pensioners, so let\u2019s have a quick run-down of what\u2019s going on\u2026","breadcrumb":{"@id":"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.redstarwealth.co.uk\/blog\/state-pension-increases-cuts-to-winter-fuel-payments\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog Home","item":"https:\/\/www.redstarwealth.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"State Pension Increases &#038; Cuts to Winter Fuel Payments"}]},{"@type":"WebSite","@id":"https:\/\/www.redstarwealth.co.uk\/blog\/#website","url":"https:\/\/www.redstarwealth.co.uk\/blog\/","name":"Red Star Wealth","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.redstarwealth.co.uk\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.redstarwealth.co.uk\/blog\/#\/schema\/person\/1f2776f8faaab4f434de9e1253b3b442","name":"Red Star Wealth","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.redstarwealth.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/Screenshot-2022-10-05-at-11.34.46.png","contentUrl":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/Screenshot-2022-10-05-at-11.34.46.png","caption":"Red Star Wealth"},"url":"https:\/\/www.redstarwealth.co.uk\/blog\/author\/lydia-b\/"}]}},"jetpack_featured_media_url":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/pexels-pixabay-33786-scaled.jpg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8fljJ-pf","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1565"}],"collection":[{"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1565"}],"version-history":[{"count":2,"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1565\/revisions"}],"predecessor-version":[{"id":1568,"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1565\/revisions\/1568"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/media\/1566"}],"wp:attachment":[{"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redstarwealth.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}