From April, a series of Government payment increases will come into force - including State Pension - which is set to increase by 10.1 per cent for around 12.6 million people across the UK. However, according to reports, despite a record-breaking rise in payments of the contributory benefit, an estimated 1.8 million pensioners are receiving State Pension payments of less than £100 per week.
With some variation in what individuals receive, figures show that of the overall total, there are 9.7 million older people receiving Basic State Pension payments of up to £141.85 per week (rising to £156.20 in April), compared to 2.7 million getting the New State Pension, which is worth up to £185.15 each week (rising to £203.85 in April).
Helen Morrissey is senior pensions and retirement analyst at Hargreaves Lansdown. The expert warns that at least some of those on the lowest State Pension payments could be missing out on Pension Credit, which could add up to an extra £201.05 for a single person and £306.85 for a couple following April's increase.
