State Pension payments are rising to more than £815 each month for millions of older people in April
13.01.2023 - 14:41
/ dailyrecord.co.uk
Basic and New State Pension payments will increase this year by 10.1 per cent for some 12.5million older people across the UK, including 992,052 living in Scotland. The honouring of the Triple Lock rule was confirmed last month by the UK Government and means that older people are set for an income boost of up to £75 per month from April.
Of the overall UK total number of people claiming State Pensions, there are 10.1million currently receiving Basic State Pension payments of up to £141.85 per week, compared to 2.4million getting New State Pension payments, which are worth up to £185.15 each week. Worryingly, there are over 1.9million people receiving less than £100 per week in State Pension payments and just under 1.5million of these are women.
By honouring the State Pension Triple Lock, it means those on the full New State Pension will see payments increase from £185.15 per week to £203.85 and those on the Basic State Pension will see weekly payments rise from £141.85 per week to £156.20.
However, it’s important to note that to be eligible for any State Pension payment you must have at least 10 years’ worth of National Insurance Contributions and to receive the full amount, 35 years.
People receiving State Pension can choose to be paid either weekly or every four weeks - not to be confused with being paid monthly as the The Department for Work and Pensions (DWP) makes 13, four-weekly payments each year over a 52-week period, which can result in two payments being made in the same calendar month. But most people refer to the four-weekly payment cycle as ‘monthly’ and that is the intention here, just to make it easier to understand the increased amount.
The DWP has shared the proposed list of payment rates from April
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