The State Pension rate is set to change in the coming weeks, and millions will see a difference in their weekly payments. This means a big boost for everyone who claims the State Pension.

Last year, it was announced that the State Pension would increase by 8.5 per cent, following the Government’s triple lock pledge. Although this change was announced in October, it won’t take effect until April.

This means that millions of pensioners will start to feel the benefit of this increase from then. It’s estimated to be worth around £900 extra a year for pensioners, Birmingham Live reports.

The exact amounts will depend on the type of pension people receive. Chancellor Jeremy Hunt confirmed in his Autumn Statement that the State Pension would rise in line with the triple lock, despite some worries that the Government might abandon the pledge due to its cost.

The triple lock guarantees that the State Pension will increase to match whichever is highest out of inflation, wages and 2.5 percent. Mr Hunt dismissed these concerns, promising to support older people.

From April, millions will notice increased payments. This comes after another winter where the poorest pensioners have struggled to afford heating their homes and buying food and other essentials.

During his Autumn Statement speech, the Chancellor declared: “We honour our commitment to the triple lock in full. From April 2024, we will increase the full new State Pension by 8.5 per cent to £221.20 a week, worth up to £900 more a year. That is one of the largest ever cash increases to the State Pension showing this Government will always back our pensioners.”

He also confirmed that Universal Credit and other benefits will go up by 6.7 percent from April.

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