DWP plans state pension over £30,000 a year

Campaigners are making bold demands for the state pension to be increased to more than £30,000 per year—more than double the current amount—and for the age at which people become eligible to be lowered to 60. They have launched a petition urging the government to raise the state pension to match 48 hours of work per week at the National Living Wage, which is currently £12.21 per hour for those aged over 21.

The campaign also calls for a significant reduction in the retirement age, from the existing 66 (for both men and women) to 60 years. The pension age is already planned to rise to 67 between 2026 and 2028, making this demand a notable reversal.

The petition states: “We want the Government to make the state pension available from the age of 60 and increase it to equal 48 hours a week at the National Living Wage. Therefore, starting April 2025, a universal state pension should be £586.08 per week, or approximately £30,476.16 per year, available to all, including expatriates, aged 60 and above.”

This suggested amount would more than double the current full new state pension, which stands at £230.25 per week, or £11,973 annually. The campaigners also voiced worries that the government is planning to tighten restrictions on the pension system.

The petition adds: “We believe government policy is aiming to treat the state pension as a benefit that is not accessible to everyone, especially as the age of entitlement keeps rising. We want reforms so the pension is available to all, including expatriates, from age 60 and linked to the National Living Wage, to provide financial security.”

If the petition reaches 10,000 signatures, the government will be required to respond. If it reaches 100,000 signatures, the matter will be considered for debate in Parliament. To receive the full new state pension, most people must have made 35 years of National Insurance contributions.

The current full basic state pension is £176.45 per week, which generally requires 30 years of contributions. Individuals can check their projected pension amounts using the state pension forecast tool available on the government’s website.

Each April, state pension payments increase automatically under the “triple lock” policy. This policy raises payments by the highest of three figures: 2.5%, inflation rate, or average earnings increase.

The earnings increase is expected to be the main factor for next April’s rise, with the latest earnings figure at 5.3%. Inflation, measured over the year to May, was 3.4%, slightly down from 3.5% for the year to April.