The Chancellor said he will increase state pensions in line with inflation, potentially increasing the New State Pension up by £18.70 a week.
Setting out his Autumn statement, Jeremy Hunt confirmed the "biggest ever cash increase in the state pension".
You’ll be able to claim the new State Pension if you’re a man born on or after April 6 1951 or a woman born on or after April 6 1953.
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The earliest you can get the new State Pension is when you reach State Pension age. If you reached State Pension age before April 6 2016, these rules do not apply. Instead, you’ll get the basic State Pension.
A 10.1% rise - costing £11bn - will likely take the New State Pension up by £18.70 a week, from £185.15 to £203.85. The rise will be worth £870 over the year, according to the Mirror.
Mr Hunt also announced the government is sticking to its “triple lock” on the state pension.
The 'triple lock' rule means the state pensions must rise each year in line with the highest of three possible figures, inflation, average earnings or 2.5%
He told the Commons: "In the face of unprecedented global headwinds, families, pensioners, businesses, teachers, nurses and many others are worried about the future.
"So today we deliver a plan to tackle the cost-of-living crisis and rebuild our economy.
"Our priorities are stability, growth, and public services.
"We also protect the vulnerable because to be British is to be compassionate and this is a compassionate Conservative government.
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