Overview
- Petition creator Michael Thompson urges abolishing the Basic State Pension and placing everyone on the New State Pension, arguing the rate should track a share of average earnings, which the ONS estimated at £722 a week in March 2025.
- The proposal would shift roughly 8.1 million people off the old system, and the petition had 358 signatures at the latest count, needing 10,000 for a government response and 100,000 for consideration for debate before its 13 December deadline.
- Based on the triple lock’s 4.8% earnings figure, the full New State Pension would rise to £241.30 a week next year and the maximum Basic State Pension to £184.90, equating to annual increases of about £574 and £440 respectively.
- With the personal allowance frozen at £12,570 until 2028, the uprated full New State Pension of about £12,547 a year would leave little headroom before income tax liability begins, potentially pulling more pensioners into tax.
- Personal finance voices question equity in a one-size-fits-all system, citing wide life expectancy gaps such as Kensington and Chelsea versus Blackpool and warning that tailoring pension ages or rates would be complex and costly to administer.