In a significant move affirming its dedication to safeguarding pensioners' financial well-being, the Government has announced an 8.5 percent increase to the State Pension,

effective immediately. This raise reflects the Government's ongoing commitment to bolstering retirement security for millions of pensioners across the UK.

This substantial increase, one of the largest cash increments ever, translates to an additional £900 annually for pensioners receiving the full rate of the new State Pension. Last year witnessed the highest-ever cash increase in State Pension history, at 10.1 percent, coupled with nearly £5 billion in winter support for pensioners.

Underscoring the Government's unwavering support for Britain's pensioners, this initiative is aimed at providing dignity and security to those who have contributed to society throughout their lives. The Triple Locked State Pension remains a cornerstone of this commitment, ensuring that pensioners' incomes are protected amidst economic fluctuations.

Furthermore, Pension Credit, a crucial benefit for low-income pensioners, will see a substantial rise, with the average award now exceeding £3,900. Additionally, Local Housing Allowance rates will increase, providing over 1.5 million recipients of Universal Credit or Housing Benefit with an extra £800.

These unprecedented measures reflect the Government's steadfast adherence to its economic plan, which has facilitated a turnaround in the economy, enabling individuals to achieve financial security for themselves and their families.

Secretary of State for Work and Pensions, Mel Stride MP, hailed the increase as a testament to the Government's commitment to pensioners' well-being, underpinned by efforts to combat inflation and bolster economic stability.

Minister for Pensions, Paul Maynard MP, emphasized the importance of protecting pensioners' incomes, affirming the Government's determination to combat pensioner poverty and ensure the State Pension remains a reliable source of retirement income.

Minister for Employment, Jo Churchill MP, underscored the Government's commitment to supporting those in need through increased benefits, alongside measures to promote employment and financial independence. The 6.7 percent rise in Universal Credit and other DWP benefits aims to provide a genuine safety net while incentivizing workforce participation.

Moreover, the Government's drive to reduce absolute poverty and stimulate economic growth has yielded tangible results, with significant reductions in poverty rates and increased support for vulnerable households.

By rewarding work through tax cuts and bolstering National Insurance contributions, the Government aims to incentivize employment and foster economic prosperity for workers and the wider economy. These combined efforts are projected to generate substantial economic growth and job creation, further solidifying the Government's commitment to supporting pensioners and workers alike.