Almost 13 million elderly people on the State Pension will see payments increase
The DWP has unveiled the proposed new weekly payment rates(Image: draganab via Getty Images)
Elderly Brits are set for a boost to their weekly payments from the Department for Work and Pensions (DWP) come April. The DWP has unveiled the proposed new weekly payment rates for those receiving the State Pension or benefits.
Nearly 13 million pensioners on the State Pension will see their payments swell by 4.8 per cent from April 6, whilst those on working age or disability benefits can look forward to a rise of 3.8 per cent. Additional State Pension payment components will also jump by 3.8 per cent, whilst the Standard Minimum Guarantee in Pension Credit will surge by 4.8 per cent – mirroring the rise in average earnings.
Elderly pensioners are set to see a weekly payment increase(Image: Jose Luis Pelaez Inc via Getty Images)
From April, this will hit £238.00 weekly for a single pensioner and £363.25 weekly for a couple. The new state pension will climb to £241.30 (from £230.25), whilst the old, or basic state pension, which applies to pensioners born before 1953 (if they’re women) and 1951 (if they’re men), will increase to £184.90 (from £176.45), reports Birmingham Live.
New State Pension
Full rate: £241.30 (from £230.25)
Old/Basic State Pension
Category A or B Basic State Pension: £184.90 (from £176.45)Category B (lower) Basic State Pension – spouse or civil Partner’s insurance: £110.75 (from £105.70)Category C or D – non-contributory: £110.75 (from £105.70)
Full details on Additional State Pension, Widows Pension, increments and Invalidity Allowance can be found on GOV.UK. HM Treasury said: “Thanks to our commitment to the pension Triple Lock for this parliament, pensioners on the full new State Pension across the UK are set to receive an extra £575 a year, which they’ll start seeing from April 2026.
“Although their effect in any given year is usually not dramatic, uprating decisions and rules compound over time and have substantially changed the value of benefits, both in real terms and relative to earnings. A useful illustration of this is the change in the real value of the basic State Pension compared with basic levels of unemployment support.”