State Pension is a regular payment made by the state to people of or above the official retirement age.
The Department for Work and Pensions (DWP) revealed the rate will rise by 3.1% next month in line with the Consumer Price Index - as The Daily Record reports.
The Prime Minister called off a proposed 8.8% increase in state pensions last year when he suspended the triple lock increase.
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The DWP described the decision to suspend the double lock rule as the "fairest approach".
It said: "In taking this decision, the [UK] Government carefully considered the fairest approach for both pensioners and younger taxpayers, many of whom have been hardest hit by the financial impacts of the pandemic.
"In addition, last year, we delivered primary legislation to increase State Pensions by 2.5%, when earnings fell and price inflation increased by half a percentage point. If we hadn’t taken this action, State Pensions would have been frozen.”
The DWP also made clear the ‘double lock’ is a one-year response to exceptional circumstances and the Uk Government will return the earnings element of the Triple Lock next year.
The upcoming increase means the basic State Pension will rise to £141.85 per week from £137.60 and the full new State Pension will go up to £185.15 from £179.60.
We have rounded up the new pension payment rates from April 11 below
Pension Credit
- Single: £182.60 (from £177.10)
- Couple: £278.70 (from £270.30 )
State Pension
- Full New State Pension: £185.15 (from £179.60)
- Basic Old State Pension (Category A or B): £141.85 (from £137.60)
Widow’s Pension
- Standard rate: £126.35 (from £122.55)
For the full list of proposed DWP increases to benefits and State Pension, visit the GOV.UK website here.
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