People on Basic and New State Pension payments will be seeing an increase of 10.1% by next year. This means that 12.5 million older people across the UK will see an rise in the money they receive.
Over one-fifth (21.3%) of the Welsh population in 2021 were aged 65 years and over. In his autumn statement Chancellor Jeremy Hunt said that he would be honouring the Triple Lock rule which will now result in older people set for an income boost from April 2023.
Of everyone in the UK claiming a state pension, 10.1 million currently receive the Basic State Pension (up to £141.85 per week), 2.4 million receive new state Pension payments (worth up to £185.15 each week). Currently there are over 1.9 million people receiving less than £100 per week. The vast majority of these (just under 1.5 million) are women.
