pension

It says this figure does not account for its ongoing drive to increase take-up of pension credit among an estimated 880,000 eligible pensioners not currently claiming the top-up.

Earlier this year, Chancellor Rachel Reeves announced the £300 payment would be restricted to all but the poorest pensioners - those eligible for pension credit.

The rules on this have changed, and 2024 payments will only go to those on low incomes who receive certain benefits, including pension credit.

There’s a shortage of growth capital: By Wehmeier’s calculations, the continent has underfunded later-stage start-ups by about $375 billion over the past decade, partly because of a lack of pension fund investment in venture capital.

However, the state pension increase will be spread over the year from next April, whereas the winter fuel payment is usually paid in November or December.