17 January 2024 , 13:29
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An online petition with over 15,100 signatures is urging the UK Government to revamp the state pension scheme and tie payments to the National Living Wage.
Petition starter Michael Thompson, suggests a "universal state pension" that would be given to everyone aged 60 and above, at £549.12 each week - equivalent to 48 hours of pay at the National Living Wage rate. Such changes would gift millions of people presently on the state pension - and those over 60 - an impressive £28,554.24 every year.
The state pension will increase by 8.5% from this April. For those on the current full new state pension this equals an annual income rise from around £11,500 to nearly £8,800 for those on the basic or old state pension.
The petition - which is titled "Offer the State Pension to all at 60, increase to equal 48hrs at the National Living Wage" - can be found on the UK Parliament's petitions website. It reads: "We want the Government to make the State Pension available from the age of 60, and increase this to equal 48 hours at the National Living Wage." It ends by stating: "Hence from April 2024 a universal State Pension should be £549.12 per week or £28,554.24 per year as a right to all, age 60 and above."
The petition says: "Government policy seems intent on the State Pension being a benefit, while increasing the age of entitlement. We want reforms so the State Pension is available from age 60, and linked to the National Living Wage. If we can't pay a fair Pension, then how can we afford foreign adventurism, nuclear weapons, armies, royals, pageantry, MP's salaries, etc?"
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Now that over 10,000 people have signed it, the UK Government must give a written reply. If it reaches 100,000 signatures, Parliament might debate it. You can check out the full details online. The amount you get for your state pension depends on how many years you've paid National Insurance. You need about 35 years for the full new state pension but sometimes you need more.
Chancellor Jeremy Hunt said in November that the new and basic state pension will go up by 8.5% because of the Triple Lock policy, which looks at how much earnings grow.
* An AI tool was used to add an extra layer to the editing process for this story. You can report any errors to [email protected]