66,000 pensioners won't get payment hike in 2027 as government speaks out

NewsCost Of LivingDWPLabour government and DWP have issued a response15:18, 04 Aug 202666,000 retirees will be forced to wait a year for their pensions to rise, it has emerged. Tens of thousands of pensioners face a year's delay in receiving a hike - because of the Labour Party government's compensation scheme being held out.‌Data shows 330,000 retirees rely on the Pension Protection Fund (PPF) and the Financial Assistance Scheme (FAS). These pensioners were promised their payouts would finally start rising with inflation by as early as January 2027.‌But retirees on both government-backed pensions have now been warned they face waiting until 2028 to receive a hike. The PPF cannot meet the original January 2027 deadline, the Telegraph has reported.‌READ MORE Andy Burnham told to scrap two H