Context
The Secretary of State recently announced the outcome of her annual uprating review, which includes a commitment to the pensions triple lock.
Question
I am concerned about pensioners across the UK. Given that you have delivered on your manifesto commitment for the pensions triple lock and that the basic state pension will be increased by 2.5%, can you confirm when this increase will take effect?
Answer from Therese Coffey
Last week I announced the outcome of my annual uprating review. It delivers on our manifesto commitment for the pensions triple lock, thus providing financial peace of mind for pensioners across the UK. The basic and new state pension will be increased by 2.5% as that is the highest of the increases—inflation, earnings or 2.5%. This means that from April 2021 the yearly basic state pension will be worth around £2,050 more in cash terms than in 2010.
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