State Pension payments are rising to more than £815 each month for millions of older people this April
16.02.2023 - 07:41
/ dailyrecord.co.uk
Basic and New State Pension payments will soon increase by 10.1 per cent for some 12.6 million older people across the country, including around one million living in Scotland. The honouring of the Triple Lock rule means that older people are set for an income boost of up to £75 per month from April.
Of the overall total number of Brits claiming State Pensions, there are now 9.7 million currently receiving Basic State Pension payments of up to £141.85 per week, compared to 2.9 million getting New State Pension payments, which are worth up to £185.15 each week.
Sadly, there are also an estimated 1.8 million older people receiving less than £100 per week from their State Pension payments. If your income is low you may be able to claim Pension Credit which is an annual income boost worth on average around £3,500 - it also acts as a 'gateway' benefit to other financial support including help with housing and heating costs and Council Tax Reductions.
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 up to £203.85 and those on the Basic State Pension will see weekly payments rise from £141.85 per week to up 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
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can
send a complaint on the news if you find it unreliable.