Rachel Reeves (Image: Getty)
The Chancellor confirmed the changes today and said she would announce the exact amount in the Budget on October 30.
The increase is made possible because the government has committed to the pensions Triple Lock - introduced by the Conservatives.
DON'T MISS
Powered by
760k OAPs missing out on free cash as Labour axes Winter Fuel Payment - are you eligible?
4 Comments
Rachel Reeves planning up to ￡40bn of tax rises and spending cuts in Budget
718 Comments
State pension 4.1% boost ‘entirely cancelled' for millions of pensioners
137 Comments
Older Brits to get ￡460 one-off payment by January 1 - how to claim
2 Comments
People should look out for DWP letters or risk missing out on ￡4,000
2 Comments
Pension deadline warning as dates to claim ￡485 extra from Government loom
1 Comments
Pensioners in fear over how to survive winter after Labour's fuel payment cuts
386 Comments
Winter fuel payment cuts could be start of Labour's war on pensioners, campaigners warn
73 Comments
Pensioners may have to return hundreds of pounds in winter fuel benefits
3 Comments
Emotional Jeremy Vine pensioner rages 'Keir Starmer is trying to kill me off'
4 Comments
What inflation falling means for your money - from state pension to mortgages
5 Comments
Labour civil war as MPs make plea to Rachel Reeves over winter fuel raid
508 Comments
Brits in Majorca could be in line for ￡2,900 state pension boost - see if you're eligible
Comments
New DWP plan to speed up claims for Pension Credit's ￡3,900 boost
Comments
Rachel Reeves is using 'bogus' ￡40bn blackhole to hike up taxes
41 Comments
'Unacceptable!' One in five pension credit claims not processed within target timeframe
16 Comments
Shocking number of OAPs fear Labour's cold weather cash grab will see their health suffer
11 Comments
Labour civil war as Rachel Reeves battles cabinet members over UK's ￡100bn black hole
1519 Comments
Angela Rayner among Labour ministers furious as 'biggest tax raid in history' mooted
14 Comments
Martin Lewis warns pensioners will earn ￡112 less than Labour want them to believe
1 Comments
760k OAPs missing out on free cash as Labour axes Winter Fuel Payment - are you eligible?
4 Comments
Rachel Reeves planning up to ￡40bn of tax rises and spending cuts in Budget
718 Comments
State pension 4.1% boost ‘entirely cancelled' for millions of pensioners
137 Comments
Older Brits to get ￡460 one-off payment by January 1 - how to claim
2 Comments
People should look out for DWP letters or risk missing out on ￡4,000
2 Comments
Pension deadline warning as dates to claim ￡485 extra from Government loom
1 Comments
Pensioners in fear over how to survive winter after Labour's fuel payment cuts
386 Comments
Winter fuel payment cuts could be start of Labour's war on pensioners, campaigners warn
73 Comments
Pensioners may have to return hundreds of pounds in winter fuel benefits
3 Comments
Emotional Jeremy Vine pensioner rages 'Keir Starmer is trying to kill me off'
4 Comments
What inflation falling means for your money - from state pension to mortgages
5 Comments
Labour civil war as MPs make plea to Rachel Reeves over winter fuel raid
508 Comments
Brits in Majorca could be in line for ￡2,900 state pension boost - see if you're eligible
Comments
New DWP plan to speed up claims for Pension Credit's ￡3,900 boost
Comments
Rachel Reeves is using 'bogus' ￡40bn blackhole to hike up taxes
41 Comments
'Unacceptable!' One in five pension credit claims not processed within target timeframe
16 Comments
Shocking number of OAPs fear Labour's cold weather cash grab will see their health suffer
11 Comments
Labour civil war as Rachel Reeves battles cabinet members over UK's ￡100bn black hole
1519 Comments
Angela Rayner among Labour ministers furious as 'biggest tax raid in history' mooted
14 Comments
Martin Lewis warns pensioners will earn ￡112 less than Labour want them to believe
1 Comments
760k OAPs missing out on free cash as Labour axes Winter Fuel Payment - are you eligible?
4 Comments
Rachel Reeves planning up to ￡40bn of tax rises and spending cuts in Budget
718 Comments
State pension 4.1% boost ‘entirely cancelled' for millions of pensioners
137 Comments
Older Brits to get ￡460 one-off payment by January 1 - how to claim
2 Comments
People should look out for DWP letters or risk missing out on ￡4,000
2 Comments
Pension deadline warning as dates to claim ￡485 extra from Government loom
1 Comments
Pensioners in fear over how to survive winter after Labour's fuel payment cuts
386 Comments
But her remarks appear to have slammed the door shut on any hope that she might water down the decision to strip winter fuel payments from millions of pensioners.
Don't miss... Rachel Reeves will 'breach' Labour manifesto promise with tax change [LATEST]
Get the latest politics news straight to your phone Join us on WhatsApp Our community members are treated to special offers, promotions, and adverts from us and our partners. You can check out at any time. Read our Privacy Policy
Asked if there is any form of tapering to help OAPs, Ms Reeves told reporters at an international investment summit in London: "In July, when I announced that difficult decision, I did so because of the inheritance that we faced from the previous Government - a ￡22bn black hole in the public finances.
"And in July, I announced five and a half billion pounds worth of saving to try and bring that down.
"But as you can see, there is still a gap between the black hole that we inherited and what we would need to do to close that black hole.”
She added: "This Government has committed to the triple lock for the duration of this Parliament.
"The triple lock means that this Winter, the new state pension is worth ￡900 more than it was last winter - so at least three times higher than the value of the Winter Fuel Payment per household.
"And I will announce the increase in next year's state pension at the budget, but it's likely to be in the region of ￡450.
Don't miss...
Pensioners warned they could be forced to pay ￡300 unless they do 3 things [LATEST]
New DWP plan to speed up claims for Pension Credit's ￡3,900 boost [LATEST]
Eamonn Holmes erupts at 'state of country' in rant at Labour's winter fuel raid [LATEST]
SUBSCRIBE Invalid email
We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy
"So you can see because of the commitment to the triple lock, the state pension will go up by more than winter fuel every year.
"I think it's expected to go up by ￡1,700 during the course of this Parliament.”
DON'T MISS
Powered by
760k OAPs missing out on free cash as Labour axes Winter Fuel Payment - are you eligible?
4 Comments
Rachel Reeves planning up to ￡40bn of tax rises and spending cuts in Budget
718 Comments
State pension 4.1% boost ‘entirely cancelled' for millions of pensioners
137 Comments
Older Brits to get ￡460 one-off payment by January 1 - how to claim
2 Comments
People should look out for DWP letters or risk missing out on ￡4,000
2 Comments
Pension deadline warning as dates to claim ￡485 extra from Government loom
1 Comments
Pensioners in fear over how to survive winter after Labour's fuel payment cuts
386 Comments
Winter fuel payment cuts could be start of Labour's war on pensioners, campaigners warn
73 Comments
Pensioners may have to return hundreds of pounds in winter fuel benefits
3 Comments
Emotional Jeremy Vine pensioner rages 'Keir Starmer is trying to kill me off'
4 Comments
What inflation falling means for your money - from state pension to mortgages
5 Comments
Labour civil war as MPs make plea to Rachel Reeves over winter fuel raid
508 Comments
Brits in Majorca could be in line for ￡2,900 state pension boost - see if you're eligible
Comments
New DWP plan to speed up claims for Pension Credit's ￡3,900 boost
Comments
Rachel Reeves is using 'bogus' ￡40bn blackhole to hike up taxes
41 Comments
'Unacceptable!' One in five pension credit claims not processed within target timeframe
16 Comments
Shocking number of OAPs fear Labour's cold weather cash grab will see their health suffer
11 Comments
Labour civil war as Rachel Reeves battles cabinet members over UK's ￡100bn black hole
1519 Comments
Angela Rayner among Labour ministers furious as 'biggest tax raid in history' mooted
14 Comments
Martin Lewis warns pensioners will earn ￡112 less than Labour want them to believe
1 Comments
760k OAPs missing out on free cash as Labour axes Winter Fuel Payment - are you eligible?
4 Comments
Rachel Reeves planning up to ￡40bn of tax rises and spending cuts in Budget
718 Comments
State pension 4.1% boost ‘entirely cancelled' for millions of pensioners
137 Comments
Older Brits to get ￡460 one-off payment by January 1 - how to claim
2 Comments
People should look out for DWP letters or risk missing out on ￡4,000
2 Comments
Pension deadline warning as dates to claim ￡485 extra from Government loom
1 Comments
Pensioners in fear over how to survive winter after Labour's fuel payment cuts
386 Comments
Winter fuel payment cuts could be start of Labour's war on pensioners, campaigners warn
73 Comments
Pensioners may have to return hundreds of pounds in winter fuel benefits
3 Comments
Emotional Jeremy Vine pensioner rages 'Keir Starmer is trying to kill me off'
4 Comments
What inflation falling means for your money - from state pension to mortgages
5 Comments
Labour civil war as MPs make plea to Rachel Reeves over winter fuel raid
508 Comments
Brits in Majorca could be in line for ￡2,900 state pension boost - see if you're eligible
Comments
New DWP plan to speed up claims for Pension Credit's ￡3,900 boost
Comments
Rachel Reeves is using 'bogus' ￡40bn blackhole to hike up taxes
41 Comments
'Unacceptable!' One in five pension credit claims not processed within target timeframe
16 Comments
Shocking number of OAPs fear Labour's cold weather cash grab will see their health suffer
11 Comments
Labour civil war as Rachel Reeves battles cabinet members over UK's ￡100bn black hole
1519 Comments
Angela Rayner among Labour ministers furious as 'biggest tax raid in history' mooted
14 Comments
Martin Lewis warns pensioners will earn ￡112 less than Labour want them to believe
1 Comments
760k OAPs missing out on free cash as Labour axes Winter Fuel Payment - are you eligible?
4 Comments
Rachel Reeves planning up to ￡40bn of tax rises and spending cuts in Budget
718 Comments
State pension 4.1% boost ‘entirely cancelled' for millions of pensioners
137 Comments
Older Brits to get ￡460 one-off payment by January 1 - how to claim
2 Comments
People should look out for DWP letters or risk missing out on ￡4,000
2 Comments
Pension deadline warning as dates to claim ￡485 extra from Government loom
1 Comments
Pensioners in fear over how to survive winter after Labour's fuel payment cuts
386 Comments
Ms Reeves said more pensioners are also taking up the offer of pension credit.
"Since we launched that campaign, applications for pension credit are up two or three fold, which is really encouraging because that means that we'll have more people who actually keep the winter fuel payment," she said.
The triple-lock pledge ensures state pensions go up by 2.5%, average earnings or inflation, whichever figure is higher.