A new report from the Work and Pensions Committee calls for urgent action to support low-income individuals in their sixties who face a delay of up to a year before they can claim their State Pension. The committee of MPs fears that some of those affected by the pension age rise, from 66 to 67 over the next two years, could face poverty unless benefit rules are adjusted to provide more financial assistance.
The Department for Work and Pensions (DWP) acknowledged the report, stating it would consider the recommendations. In February, the DWP noted that 0.02% of the Universal Credit caseload comprised individuals aged 65 or 66, indicating a specific demographic already navigating financial support systems.
Housing Market Hit by ‘Gazundering’
Separately, the housing industry is expressing growing concern over a practice known as ‘gazundering’. This occurs when buyers, just days before exchanging contracts, demand sellers drop the agreed price by thousands of pounds, threatening to withdraw from the deal if their demands are not met. The Conveyancing Association identifies this as an escalating problem and has urged the government to implement reforms to halt the practice ‘without delay’.
In response, the government states it is addressing gazundering by introducing ‘legally binding agreements that prevent buyers from walking away at the last minute without a valid reason, with fines for those who do.’
Air-Con Grant Stalled
Adding to the financial landscape, the ‘Money Box’ programme has uncovered that a grant, announced in November, designed to fund heating systems capable of also acting as air conditioning, is not yet operational. The programme intends to investigate the reasons behind this delay, highlighting another area where promised financial support has yet to materialise for the public.
These diverse issues, from delayed pension access for vulnerable seniors to market manipulation in housing and stalled public grants, collectively underscore a period of significant financial uncertainty and policy implementation challenges across multiple sectors.
