The Department for Work and Pensions (DWP) has given an update after facing calls for the state pension to increase to £549 for every person over the age of 60.
The proposal, which has gathered more than 19,200 signatures in an online petition, includes making the extended the payment to British citizens living abroad in retirement.
The DWP has firmly rejected the calls to increase the state pension to £549 per week for people aged over 60.
In its response issued Thursday, the DWP stated it "has no plans to make state pension available from the age of 60 or to increase State Pension to equal 48 hours of work a week at the National Living Wage".
The proposal would have provided pensioners with £11.44 per hour based on a 48-hour work week, equivalent to the National Living Wage rate.
The petition, launched by Denver Johnson, would need 100,000 signatures to be considered for parliamentary debate
GETTYThe change would have benefited approximately 12.9 million people currently receiving state pension, offering them £28,554.24 annually.
The petition, launched by Denver Johnson, would need 100,000 signatures to be considered for parliamentary debate.
The proposed increase would have also applied to 453,000 British retirees whose pensions are currently frozen at their emigration rate, due to living in countries without reciprocal agreements with the UK government.
The DWP emphasised that state pension and National Living Wage serve distinct purposes and cannot be directly compared.
The department explained in its response: "The National Living Wage is designed to protect low-income workers and provide an incentive to work while state pension is an entitlement based on a person's National Insurance record, it is legally a benefit".
They added: "It is also worth noting that while state pension is an entitlement based on a person’s National Insurance record, it is legally a benefit.
"From the time of the 1946 National Insurance Act, which applied from the inception of the National Insurance scheme, retirement pension (latterly also known as State Pension), has always been classified in law as a 'benefit'."
Current figures show there are 280 pensioners for every 1,000 working-age people as of 2020. This ratio is set to rise dramatically from the 2030s, reaching unprecedented levels by 2070 with 393 pensioners per 1,000 working-age individuals.
The current state pension age of 66 is scheduled to increase to 67 between 2026 and 2028, and to 68 between 2044 and 2046.
Under the Pensions Act 2014, the Government must review these rules periodically, with the next review due by March 2029.
The DWP forecasts total state pension spending will reach £138 billion in 2024/2025, representing 5.2 per cent of GDP.
By 2073-2074, this spending is projected to rise to 7.9 per cent of GDP, driven by increasing life expectancy and a growing pensioner population.
The Government has committed to maintaining the Triple Lock for the next five years.
The DWP noted it is "committed to supporting current and future generations of pensioners and giving them the dignity and security they deserve in retirement".
Under the Triple Lock commitment, pension spending is forecast to increase by over £31 billion by the end of Parliament.
