UK State Pension to Increase Amid Winter Fuel Payment Cuts

Retirees will see a 4% pension boost next April, but changes to winter fuel payments and tax thresholds raise financial concerns.

• State pension set to rise by 4% next April, increasing new full pension to nearly £12,000.
• Means testing for winter fuel payments will reduce recipients from 11.4 million to 1.5 million, affecting many impoverished pensioners.
• Analysts warn that even with the increase, many retirees will still struggle with high living costs and potential tax implications.
• Claims for pension credit surged following the winter fuel payment announcement, but many eligible pensioners still do not claim.
• Future sustainability of the triple lock policy and state pension system remains under debate amid rising costs.

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