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Social Security Update

17 November 2022

Proposing MP
Mel Stride Con
Central Devon
Type
Written Ministerial Statement
Department
Department for Work and Pensions
View on Parliament.uk -->

At a Glance

Issue Summary

The statement discusses the review and adjustment of State Pension and benefit rates for the tax year 2023/24.

Action Requested

The minister announces that State Pension and benefit rates will increase by 10.1% in line with the Consumer Prices Index (CPI) from April 2023, including specific increases to various benefits and freezes on certain deductions due to fuel costs.

Key Facts

  • The full rate of the new State Pension will increase from £185.15 to £203.85 a week.
  • The basic State Pension will increase from £141.85 to £156.20 a week.
  • Expenditure on State Pensions and pensioner benefits will increase by £13 billion in 2023/24 compared to no change.
  • Reserved non-pensioner benefits expenditure will increase by £9 billion in 2023/24 compared to no change.
  • The standard fuel cost deductions in Housing Benefit will be frozen rather than increased.
  • Local Housing Allowance rates for 2023/24 will be maintained at elevated levels agreed for 2020/21.
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