Oral Answers to Questions

Debate between David Simmonds and Paul Maynard

Monday 18th December 2023 Commons Chamber

[David Simmonds (Ruislip, Northwood and Pinner) (Con)]

18. What steps his Department is taking to help pensioners with the cost of living.

[The Parliamentary Under-Secretary of State for Work and Pensions (Paul Maynard)]

More than 8 million pensioner households will receive a £300 payment this winter to top up their winter fuel allowance payment. The 1.4 million pensioners currently in receipt of pension credit may also receive cost of living payments totalling up to £900 in 2023-24.

--- Later in debate ---

[Paul Maynard]

Anyone who suffers a bereavement at any time will potentially be in severe financial difficulties. I direct my hon. Friend to the funeral expenses payment, which is part of the social fund. I would also point to the wider measures that we have taken, such as applying the triple lock—there will be an 8.5% increase in the state pension next year. We will also include cost of living payments in the winter fuel payment, of £500 or £600, depending on the age of the recipient.

[David Simmonds]

Despite the welcome fall in inflation, my constituent Deborah Garrard speaks for herself and many pensioners who are concerned about a second winter of high fuel prices. Will my hon. Friend outline what further measures the Department is considering to help reduce pensioners’ financial burden?

[Paul Maynard]

I know that Mrs Garrard will not be the only older resident in the country concerned about energy prices this winter. I just mentioned the increased cost of living payment that we are adding to the winter fuel payment. In addition, we have increased the warm home discount to up to £150, and there is a whole suite of cold weather payments that can be made in the event of seven days of sustained cold weather. We have a wide range of measures to help support people when faced with cold weather and high energy costs.

--- Later in debate ---

[David Simmonds (Ruislip, Northwood and Pinner) (Con)]

My constituents Susan and David Cfas have made representations to me about the situation facing them and many other pensioners who are having to access benefits and other Government support because they are stuck in an annuity trap, whereby at retirement they posted an annuity, which has remained fixed. Will my right hon. Friend meet me to discuss the plight of pensioners in that situation to see whether more can be done to encourage them to access different approaches to increase their income?

[Paul Maynard]

That is certainly one reason why we are trying to get people to engage in a more considered way with what they do at the point of the decumulation of their pension funds, but I am more than happy to meet my hon. Friend to discuss his specific concerns about annuities in due course.