GMB: Martin Lewis reacts to Chancellor's pension reveals
Martin Lewis addressed Chancellor Rachel Reeves' comments following her interview on ITV's Good Morning Britiain.
The TV star joined the programme via video link to disuss how the government's recently annoucned 2024 Budget would affect the public when he blasted the politician.
Speaking to presenters Ed Balls and Kate Garraway, he stated: "I was listening to your interview, two things she said when she was talking about state pensions.
"The first thing she said is that state pensioners will get £470 uplift because of the triple lock, that is simply factually not true for the vast majority of state pensioners, let's just do this properly."
Martin explained: "That is the rise you will get if you're on the full, new state pension."
“First of all, three in four pensioners are on the old state pension.
“The rise on the full old state pension is £360, not £470, so the vast majority of pensioners wil not get £470 by definition.
Disclosing his second point, Martin added, “To get the full rise, you have to have all of your national insurance contributions over the years that you needed; many people don’t.
“Millions of people don’t have, so millions of people on the new state pension won’t get the full uplift but are on the old state pension and more.”
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Martin continued: “She also sensed that we are protecting the poorest pensioners and she quoted there’s 151 percent uplift in claiming pension credit
“A small number of people claim pension credit, and it's gone up. Great, but there are still 700,000 of the poorest pensioners who are eligible for pension credit and those who are not claiming pension credit.
“Who the government thinks should get the winter fuel payment but won’t get the winter fuel payment and they're the ones I’m most worried about.”
The money expert added: “One of the things that was really missing for me in yesterday’s budget we all expected some mitigation over this means testing of winter fuel payment, and it was not in there.”
