Millions of older people will receive a State Pension boost this year after weekly payments increased by 10.1 per cent in April as part of the annual benefits uprating. The latest figures from the Department for Work and Pensions (DWP) show there are now 12.6 million people across Great Britain receiving State Pension payments, including 992,052 living in Scotland.
Of that overall total, some 9.7 million older people will receive Basic State Pension payments of up to £156.20 each week, compared to 2.9 million getting the New State Pension, which is now worth up to £203.85 each week.
However, it’s important to note that to be eligible for any State Pension payment you must have at least 10 years’ worth of National Insurance contributions and to receive the full amount, you will need between 35 and 44 years.
The exact number of years depends entirely on the number of National Insurance 'full years' you have accumulated and whether or not you were ‘contracted out’ of the State Pension - you can check your State Pension forecast online at GOV.UK here.
People receiving State Pension can choose to be paid either weekly or every four weeks - not to be confused with being paid monthly as the the DWP makes 13, four-weekly payments each year over the 52-week period, which can result in two payments being made in the same calendar month.
But most people refer to the four-weekly payment cycle as ‘monthly’ and that is the intention here, just to make it easier to understand the increased amount.
Below is everything you need to know about the increase to both sets of State Pension payments as May should see most people receive the full uplift as opposed to a payment in April which contained a mix of both the old and new rates.
Full New State Pension
You are eligible for the New State Pension if you are:
- a man born on or after April 6, 1951
- a woman born on or after April 6, 1953
New State Pension payment rates
- Weekly rate: £203.85 (an increase of £18.70 from £185.15)
- Four-weekly rate: £815.40 (an increase of £74.80 from £740.60)
Basic State Pension (Category A or B)
You are eligible for the Basic State Pension if you are:
- a man born before April 6, 1951
- a woman born before April 6, 1953
Basic State Pension payment rates
- Weekly rate: £156.20 (an increase of £14.35 from £141.85)
- Four-weekly rate: £624.80 (an increase of £57.40 from £567.40)
Widow’s Pension
- Standard rate: £139.10 (from £126.35)
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