{"id":292128,"date":"2025-11-30T22:36:25","date_gmt":"2025-11-30T22:36:25","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/292128\/"},"modified":"2025-11-30T22:36:25","modified_gmt":"2025-11-30T22:36:25","slug":"state-pensioners-born-before-1953-will-be-denied-2920-due-to-two-tier-rule","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/292128\/","title":{"rendered":"State pensioners born before 1953 will be denied \u00a32,920 due to ‘two-tier’ rule"},"content":{"rendered":"

Chancellor Rachel Reeves will announce tomorrow the rate of the full new state pension will increase to just over \u00a3240 a week\"StateState pensioners born before 1953 will be denied \u00a32,920 due to ‘two-tier’ rule<\/p>\n

State pensioners on the Old, Basic State Pension from the Department for Work and Pensions face losing THOUSANDS – due to a two-tier system.<\/p>\n

Labour Party<\/a> Chancellor Rachel Reeves will announce tomorrow the rate of the full new state pension will increase to just over \u00a3240 a week from next April, while the full basic state pension is expected to rise by around an extra \u00a3440 a year. This is an increase worth over \u00a3550 a year, an extra \u00a3120 compared to what it would have been if it had been uprated only by inflation. Right now, the full new state pension is \u00a3230.25 a week, or \u00a311,973 per year.<\/p>\n

READ MORE State pensioners will have to pay back \u00a3200 Winter Fuel Payment under new plan<\/a><\/p>\n

A 4.7 per cent increase – which earnings growth was at – means \u00a3241.05 a week, giving \u00a3561 more per year, totalling about \u00a312,534 for those who get a full new state pension.<\/p>\n

But older retirees, born before 1951 if they’re men and 1953 if they’re women, will see payments rise from \u00a3176.45 a week to \u00a3184.90. That means a \u00a39,614 payment – some \u00a32,920 shy of what younger pensioners will be handed.<\/p>\n

Previously, ex-DWP workers like Sandra Wrench have said the Basic and New state pension rates create a “two-tier system”.<\/p>\n

Mrs Wrench warned: \u201cWith The Triple Lock relating to the basic rates of the State Pension only, this has created a two-tier uprating system for those who reached State Pension Age before April 2016 where the 100% rate of the Old\/Basic State Pension is currently \u00a3176.45 a week and those who reached retirement age after April 2016 where the 100% rate of the New State Pension is higher at \u00a3230.25.\u201d<\/p>\n

Ms Reeves said: \u201cWhether it’s our commitment to the triple lock or to rebuilding our NHS<\/a> to cut waiting lists, we’re supporting pensioners to give them the security in retirement they deserve.<\/p>\n

“At the Budget this week I will set out how we will take the fair choices to deliver on the country’s priorities to cut NHS waiting lists, cut national debt and cut the cost of living.\u201d<\/p>\n

Kemi Badenoch, meanwhile, will use a pre-Budget speech to accuse the Government of killing off Christmas<\/a> jobs and other seasonal work with the new Employment Rights Bill, which makes it harder for businesses to sack staff or reduce their hours.<\/p>\n

She will tell the CBI business group: \u201cIf a university undergrad chooses to get a Christmas job and works 40 hours a week in the three weeks before December, they then have the right to those same hours in January, February and March.<\/p>\n

\u201cGreat. Except there\u2019s no demand then, and revenue falls off a cliff. A measure designed to ensure employment in January will effectively mean firms don\u2019t hire in December \u2013 and everyone loses.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Chancellor Rachel Reeves will announce tomorrow the rate of the full new state pension will increase to just…\n","protected":false},"author":2,"featured_media":292129,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,2215,4176,4174,4175,56,54,55],"class_list":{"0":"post-292128","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-dwp","10":"tag-finance","11":"tag-personal-finance","12":"tag-personalfinance","13":"tag-uk","14":"tag-united-kingdom","15":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/292128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=292128"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/292128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/292129"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=292128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=292128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=292128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}