Wealth

(asked on 14th October 2025) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether her Department's definition of a millionaire includes (a) assets, (b) the outstanding value of pension pots and (c) income levels in the context of (i) winter fuel payments and (ii) other policies.


Answered by
Torsten Bell Portrait
Torsten Bell
Parliamentary Secretary (HM Treasury)
This question was answered on 22nd October 2025

The Winter Fuel Payment will be paid to those with total incomes below or equal to £35,000. This means those on lower and middle incomes will still receive the help they need and ensures fairness for both pensioners and taxpayers.

The standard definition of total taxable income applies. This includes any savings interest outside an ISA, even if the savings are under the Personal Savings Allowance

Other benefits have their own means tests, which take differing personal and financial circumstances into account to ensure support is appropriately targeted.

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