The winter fuel allowance fallout rumbles on, and so it should because imo it’s the wrong move at the wrong time, but just for a bit of perspective I have tracked back to when I first started to receive the state pension in 2021.
My weekly pension was £198.19 in that first year and should have risen by 8.5% under the triple lock rules but this was the year when the government suspended the triple lock.
My weekly pension, for 2022/23 rose to £204.32 instead of £216.45, a weekly loss of £12.14 and an annual loss of £631.28 due to the triple lock rules being broken by the Tory government.
But it doesn’t end there.
The next years increase was 10.1% but it was based on £204.32 and not on £216.45.
So for year 2023/24 my weekly pension was £224.95 and not £238.32, a weekly loss of £13.37 and an annual loss of £695.24.
My pension for 2024/25 rose by around 6.7% on £224.95 and not on £238.32, a weekly loss of £10.57 and an annual loss of £549.64.
By my reckoning that decision to suspend the triple lock will, by April 5th 2025, have lost me £1876.16 from my pension which is double the amount I would lose in 3 years with the fuel allowance being withdrawn.
This deficit will continue ad infinitum but the majority of pensioners are unaware as to how much money they have lost as a direct result of that decision in 2021.
Figures are based on what I received and the percentage increases were taken from a website, so there might be some fluctuation, in the figures and my mathematical abilities.