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Demands to increase state pension to £380 a week would ‘cripple economy’

Lowering the state pension age to 60 and increasing payments to £380 a week would cost the Treasury around £250bn, ministers have warned.

by | 12 Dec, 2022

MPs today debated the demands from campaigners in Parliament after a petition collected more than 110,000 signatures. The petition, from campaigner Michael Thompson, attracted 10,000 signatures over the threshold required to escalate the idea to debate in Westminster.

It demands: “We want the Government to increase the basic state pension to £19,760 a year (£380 a week), and extend this to anyone aged 60 or over. This should lift thousands out of poverty, and give our elderly folk more spending power and help grow the economy.

“The Government should restore the state pension age back to 60 for men and women, because, people should not have to wait until their mid to late 60s to claim the state pension, as many people have worked from a young age, and their health deteriorates long before they are able to claim the state pension.”
Read more at Yahoo Finance
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