The Government understands the pressures people are facing with the cost of living and is taking action to help. Overall, we are providing total support of over £94bn over 2022/23 and 2023/24 to help households and individuals with the rising cost of bills. This includes 8.7m pensioner households who received a £300 Cost of Living Payment last winter as an addition to the Winter Fuel Payment. Pensioners will also receive a further £300 additional payment later this year in their Winter Fuel Payment.
In April, the State Pension saw its biggest ever rise, increasing by 10.1%. The full yearly amount of the basic State Pension will be over £3,050 higher, in cash terms, than in 2010. That’s £790 more than if it had been uprated by Prices, and £945 more than if it had been uprated by earnings (since 2010).