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Money Box: Cost of living squeeze for benefits and state pension

12/02/2022

Cost of living squeeze for benefits and state pension

BBC Radio 4 - Money Box, Cost of living squeeze for benefits and state pension

Extra cost of living squeeze for people on state pension and benefits.

Extra cost of living squeeze for those on state pension & benefits; 800,000 households not protected by the energy price cap; why only some Brits abroad get state pension increases

In April, benefits and the state pension will rise by just over three per cent. That is less than half the increase in prices which is predicted by the Bank of England. So people on benefits will be able buy less even with their increased benefits. One campaigner said it’s not so much choosing between heating and eating - more a choice between freezing or starving. What’s it like for people on the front line of the cost of living crisis and should taxpayers even be paying for a rise at all?
 
Last week we learned that the price of gas to heat our homes was going to soar – but most people are protected by the price cap. That’s not the case for around 800,000 households which get heating from Heat Networks - or communal heating - where multiple homes, usually flats, are heated by one boiler. The residents pay for their gas through management agents or housing associations. And because these are commercial contracts they are not capped like for domestic fuel. Their bills look set to triple or even quadruple. We find out what help, if any, is out there for them.
 
For nearly half a million UK pensioners living abroad the increase in their state pension will be even less than the 3.1% mentioned earlier. It will in fact be zero. In about 50 countries the pension is increased with inflation as it is in the UK. But in the rest of the world including Australia, Canada, and New Zealand as well as India and most African and Caribbean countries, the state pension is frozen at the rate it is first paid abroad. A petition to change this was launched in January but it still has barely half the signatures needed to get a Government response.
 
Presenter: Paul Lewis
Reporter: Chris Flynn
Producer: Dan Whitworth
Researcher: Marianna Brain
Editor: Emma Rippon

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