Hampshire RMS on the 2021 State Pension Increases

“A bank is a place that will lend you money if you can prove that you don’t need it” Bob Hope

An increase of 2.5% on the state pension has been announced to commence in April 2021.  Those on the new state pension will receive an increase of £4.40 per week to £179.60.  The increase on the old state pension will be £3.40 to £137.45.

The increases were triggered by the triple lock state pension protection.  Whilst any increase is welcome, current pensions paid in the United Kingdom remain one of the lowest in the developed world.  Proportionately it is on par with that paid in Mexico.

Despite recent assurances from the Prime Minister that the triple lock protection will remain in place for the duration of the current government in accordance with their election manifesto, the apparent feeding frenzy to amend the triple lock protection continues amongst elements in Parliament, the media and is supported by sundry other pressure groups.

Recently joining the fray is the Organisation for Economic Cooperation and Development, who claim the triple lock in its present form is unsustainable and needs amendment.

I know many of you willingly support your extended family with time and financial assistance.  Pensioners have sustained a decade of austerity.  Those fortunate enough to have savings or investments have seen them eroded by inflation which exceeds any capital gain.  The everyday cost of energy, insurance and food continues to spiral upwards.  Free TV licences for those over seventy-five have been withdrawn.  Added to this is the threat of the Corona virus, which for some elderly victims represents the prospect of early death.

Perhaps we should smile and quietly say to those who seek to add further burdens to the elderly ‘GO AWAY’.  Or maybe to make ourselves heard we should express ourselves in more forthright terms.

Stay safe.

Chris O’Neill 

Chair, Hampshire Unison Retired Members Section