Pension warning as 10 million older households to lose payments thanks to Rishi Sunak's 'economic failure'

Some 10 million pensioners could lose access to vital payment support thanks to Prime Minister Rishi Sunak's "economic failure", the Labour Party has claimed.

The Official Opposition is warning millions may be stripped of their Winter Fuel Payments if the Tories decide to means-test the benefit in an attempt to fill a £45billion spending black hole.

Last September, Sunak was reportedly interested in the idea of determining whether someone is eligible for Winter Fuel Payments depending on their income and savings.

In its current form, the benefit helps older households cover the costs of their energy bills with pensioners being potentially eligible to get anywhere between £250 and £600.

Someone is entitled to this support if they were born before September 25, 1957 and live in the UK. It is not means-tested.

When asked about the Winter Fuel Payment at Prime Minister's Questions, the Prime Minister refused to rule out making changes to the eligibility criteria.

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Based on research carried out by Labour, means-testing could see only 1.4 million pensioners eligible for Winter Fuel Payments going forward.

This is compared to 11.4 million elderly Britons who currently claim the benefit amid the ongoing cost of living crisis.

In response to these findings, Labour is demanding Sunak "comes clean" on how the Conservative Party plan to pay for his £46billion unfunded pledge to abolish National Insurance.

Earlier this year, the Prime Minster said it was his "long term plan" to end the tax which is charged on people's incomes

Furthermore, Labour is calling the Tories to rule out means-testing Winter Fuel Payments going into the next General Election.

Both parties have committed to keeping the triple lock on state pensions and not raise the retirement age in an attempt to entice older voters.

Alison McGovern MP, the acting Shadow Secretary of State for Work and Pensions, outlined what Labour believe is potentially at stake for older Britons.

She said: “Pensioners across the country are paying a heavy price for 14 years of Tory economic failure.

“The Tories need to come clean about how they will pay for their reckless £46billion unfunded proposal to cut National Insurance and to rule out means-testing Winter Fuel Payments to pay for it.

“Britain’s pensioners deserve certainty and stability, which is why Labour are committed to keeping the triple lock on state pensions and why we have a plan to grow the economy to put money back into people’s pockets, to make work pay, and to once again be the party for pensioners.”

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Sunak's record in office when it comes to pensioners has received a mixed response as of late.

Despite promising to keep the triple lock, Chancellor Jeremy Hunt's decision to freeze tax allowances has pulled many older people into higher tax brackets.

The impact of fiscal drag has been referred to as a "stealth tax" by experts at a time when pension incomes are already being stretched.

GB News has contacted the Department for Work and Pensions (DWP) for comment.