Andy Burnham confirms £12,570 state pension for anybody born after THIS yr if he is PM
Andy Burnham has confirmed he will back the Triple Lock pledge, meaning the new state pension will rise above the £12,570 tax threshold from next year — protecting pensioners from paying income tax
Andy Burnham confirms £12,570 payments for state pensioners born after 1951 if he becomes PM
Andy Burnham has pledged hefty £12,570 payments for state pensioners born after 1951 if he becomes the Prime Minister.
Mr Burnham, who is widely tipped to be the next Prime Minister, has supported Labour Party Chancellor Rachel Reeves’ policy to exempt pensioners from income tax as the state benefit surpasses the personal allowance threshold.
The new state pension will exceed £12,570 from next year under the Triple Lock, which Mr Burnham has also committed to. The new state pension applies to men born before 1951 and women born before 1953. Burnham’s promise comes despite critics urging for the Department for Work and Pensions (DWP) triple lock pledge to be abandoned.
Martin Rayner, financial adviser at Compton Financial Services, stated: “Welfare spending now exceeds income tax revenues and is still rising.
“At some point politicians have to decide whether they keep making promises or start dealing with reality. Reform is inevitable. Scrapping it outright would be politically toxic, but moving to a link based on earnings or inflation over a longer timeframe is far more likely,” reports Birmingham Live.
Fidelity’s Ed Monk stated: “Its effect has been dramatic. The full State Pension has been set at £230.25 a week, or £11,973 a year, for the 2025/26 tax year.
“We now know that, for 2026/27, the payment will rise by 4.8% – that’s the increase for wage rises which this year is the highest of the three measures.
“That will take the State Pension in 2026/27 to £241.30 a week or £12,548 a year. Consider that as recently as the 2022/23 tax year it was just £185.15 a week – meaning it’s risen more than 30% in four years.”
Mr Burnham stated that the government needs to assist pensioners who are being pulled into paying income tax thresholds which have been frozen.
He warned it would be “very damaging” to deviate from Labour’s manifesto commitment, adding that an initial decision to scrap winter fuel payments “still comes up on doorsteps a lot here in Makerfield”.
Applauding the Triple Lock increase this year, Work and Pensions Secretary Pat McFadden said: “I know global shocks, and the effects they have on our living costs, will be increasing anxiety for many households.
“This government will always protect our pensioners, and that’s why we are raising the full rate of new State Pension by up to £575 this coming year.”
And Minister for Pensions Torsten Bell stated: “After a lifetime of work and contribution, people deserve a decent retirement. Raising the State Pensions faster than prices, ensuring it is a pension they can rely on, is how we make that a reality for millions.”
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