While state pension is due to rise by 4.1 percent in line with inflation figures next April, the Government decision to scrap the Winter Fuel Payment will see millions with less in their pension pot each month.
Under the triple lock, inflation should see state pensions up from £221.20 to £230.30 a week, marking an increase of £473.60 a year.
The full basic state pension will increase from £169.50 a week to £176.45 a week — a £361.40 annual increase.
However, experts have pointed out that this increase will be effectively “almost entirely cancelled out” as the Winter Fule Payment — worth up to £300 — is scrapped.
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Under plans being introduced by the new Labour Government, millions of pensioners will lose payments intended to help them heat their homes during the cost-of-living crisis.
Chancellor Rachel Reeves said that future payments would only be made to those getting pension credit or other means-tested help.
While some previous well-off recipients say they do not need it, some charities and many MPs have expressed concern about those still on a relatively small income who will miss out.
Other support such as cold weather payments and the warm home discount are unaffected. You can read more about the Winter Fuel Payment cuts here.
