Older state pensioners to miss out on free £241 payments from DWP

State pensioners could be set for bigger state pension boost than previously thought – but some are on course to miss out. Office for National Statistics data has shown an upwards revision to a wage growth figure which is used in the triple lock calculation.

Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said of the revised figures: “This has consequences for people getting state pension who can expect the amount they get to go up ever so slightly from next April.

“Those on the full new state pension could be on course for £241.30 per week rather than £241.05 while those on the full basic state pension will see their weekly payment rise to £184.90 rather than £184.75.

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“Of course we are still waiting for the final piece of the triple lock puzzle to click into place with inflation figures published next week the key figure.

“However, with inflation currently hovering at 3.8% the likelihood is that average wages will be the figure used.”

The Department for Work and Pensions, or DWP, State Pension is a regular payment from the Government based on your previous National Insurance contributions.

There are two different systems for claiming State Pension. It’s the date that you reach State Pension age that’s important, not when you start to claim it.

The old State Pension includes two parts: a Basic State Pension based on your previous National Insurance contributions, and an Additional State Pension also based on your National Insurance contributions, but this takes into account your earnings and whether you claimed benefits too.

You can claim the full Basic State Pension if you reached State Pension age on or before 5 April 2016.

And you can claim if you have 30 years of National Insurance contributions. This includes contributions that you made when you were working, and contributions that were credited to you if you were unable to work – for example, if you were caring for a child or disabled person, or claiming certain benefits.