State Pension could be made 'universal' for over-60s and hiked to £549 a week

The new Labour Party government is under pressure to boost state pensions to as much as £30,000. A State Pension petition calls on the new Labour Party government to make the State Pension available "from the age of 60 and increase this to equal 48 hours a week at the National Living Wage."

It said: "Hence from April 2024, a universal State Pension should be £549.12 per week or about £28,554.24 per year as a right to all including expatriates, age 60 and above. We think that 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." The petition has racked up thousands of names backing it already - and the government will respond if it hits the 10k mamrk.

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April 2025 is set to see another surge in UK state pension amounts, climbing 4.1 per cent thanks to wage growth figures and staying true to the 'triple lock' manifesto promise - decidedly outpacing the 1.7 per cent hike applied to the vast majority of other DWP and HMRC benefits.

While the state pension increase may be seen as positive news, it follows a challenging winter for millions of pensioners who have lost their Winter Fuel Payments, worth up to £300. Therefore, this will still result in a net loss for all but the poorest pensioners.

Critics argue that many will end up worse off as a result and that the state pension increase next year won't make as much difference as it usually would. Payments for those on the new state pension are expected to rise to £230 a week, up from the current rate of £221.

Those on the basic state pension are set to receive £176 a week, up from £169.