Over 12 million pensioners will see their State Pension rise by up to £575 from Monday, 6 April, as both the basic and new State Pensions increase by 4.8% under the government’s Triple Lock guarantee. The rise applies to the full basic rate, moving from £176.45 to £184.90 a week, and the full new rate, moving from £230.25 to £241.30 a week. Pension Credit will also rise 4.8%, averaging £4,300 a year. The government will spend an additional £6 billion on State Pensions and pensioner benefits this year and £3 billion on working‑age benefits. Working‑age benefits, including Universal Credit, will increase 3.8% or 6.2% respectively.
© Crown copyright, 2024, GOV.UK.
Summary adapted from content licensed under the Open Government Licence v3.0.
For details, see https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/.
Original source: https://www.gov.uk/
Made by AI. If you spot anything of concern write us at contact@cybach.com. We’ll promptly correct irregularities.