More than 7,700 people have signed an online petition calling on the UK Government to increase State Pension payments to £610 a week for every person over the age of 60, including Brits living abroad in retirement. Petition creator Denver Johnson proposes increasing payments to equal 48 hours each week at the National Living Wage rate of £12.71 per hour.
Proposed uplift would benefit millions
The petition proposals would provide 13 million people currently on the State Pension - and those over 60 - with £2,440 every four-week payment period - some £31,724 each year. Under the proposals, this uplift would also be applied to some 453,000 retirees whose State Pension has been frozen at the point of emigration because the country they now live in does not have a reciprocal agreement with the UK Government.
The ‘Give State Pension to all at 60 and increase it to equal 48hrs of Living Wage’ petition has been posted on the petitions-parliament website and states: “We want the Government to make the State Pension available from age 60 and increase it to equal 48hrs a week at the National Living Wage.”
Petition aims and next steps
It adds: “We think that Government policy seems intent on the State Pension being a benefit not paid to all, while ever increasing the age of entitlement. We want reforms to the State Pension, so that it is available to all including expatriates, from age 60, and linked to the National Living Wage, for security.”
At 10,000 signatures, the petition would be entitled to a written response from the UK Government. At 100,000 it would be considered by the Petitions Committee for debate in Parliament.
Current State Pension rates and Triple Lock
Under the Triple Lock measure, State Pensions increase each year in-line with whichever is the highest of average annual earnings growth from May to July, Consumer Price Index (CPI) inflation in the year to September or 2.5 per cent.
The New and Basic State Pension increased by 4.8 per cent in April, which means someone on the full New State Pension now receives £241.30 a week, or £965.20 every four-week pay period. Those on the full Basic State Pension receive £184.90 each week, or £739.60 every four-week pay period.
Guidance on GOV.UK states: “You pay tax if your total annual income adds up to more than your Personal Allowance. Find out about your Personal Allowance and Income Tax rates. Your total income could include: the State Pension you get - Basic or New State Pension, Additional State Pension, a private pension (workplace or personal) - you can take some of this tax-free, earnings from employment or self-employment, any taxable benefits you get, any other income, such as money from investments, property or savings.”
Before you can check if you have to pay tax on your pension, you will need to know: if you have a State Pension or a private pension, how much State Pension and private pension income you will get this tax year (April 6 to April 5), and the amount of any other taxable income you’ll get this tax year (for example, from employment or state benefits). You cannot use the online tool if you get any foreign income, Marriage Allowance, or Blind Person’s Allowance. The full guide to tax when you get a pension can be found on GOV.UK.
