It’s thought this will be implemented by Mr Sunak to keep his pledge over the pension triple lock regardless of its “spiralling costs.”
Government figures have told Sky News that he “understands the politics” of the triple lock and knows he has “no option but to recommit to it” as the pensioner vote is vital to his campaign.
It’s been reported officials are drawing up proposals to remove the winter fuel allowance from “all pensioners except those who receive pension credit.”
Tax credits are ending
Don’t risk missing out on financial support
For more information visit https://t.co/XQDnt9jk1P pic.twitter.com/oWCnpora1j
— Department for Work and Pensions (@DWPgovuk) September 29, 2023
A government told the broadcaster: “Rishi understands the politics of the triple lock, although he thinks it’s far from fair from an intergenerational point of view, so he’s trying to redress that a little bit.”
Mr Sunak is yet to address the speculation and has so far “refused to commit to honouring the triple lock.”
“This increases pensions each year by whatever is highest out of average earnings, inflation or 2.5%,” reports Sky News.
It’s expected that the triple lock could cost as much as £45 billion a year by 2050.
How you can reduce your energy bills
A government spokesperson said: “We have protected pensioners with the biggest State Pension increase in history this year as well as boosting Pension Credit – worth around £3,500 a year for those on the lowest incomes.
“On top of Winter Fuel Payments, pensioners will get another £300 this winter to help with essential costs, and we are bearing down on inflation to make everyone’s money go further.”
However, they also said they would not comment on the rumours ahead of the annual autumn review of benefits and pensions.
What is the Winter Fuel Payment?
Sky News explains: “The Winter Fuel Payment is a tax-free handout from the government to help people of pension age pay for their fuel and heating bills.
“Ministers set a date each year that defines eligibility. For 2023/204, anyone born before 25 September 1957 could get between £250 and £600 to help pay for bills this winter.”
