New figures released by the Department for Work and Pensions (DWP) show that at the end of August 2022 there were 12.6 million across Great Britain in receipt of State Pension payments, an increase of 130,000 on the year before.
The latest statistics also show that there are now 2.9 million people receiving the New State Pension, an increase of 670,000 since 2022. Even though the contributory benefit is worth up to £185.15 each week, the average weekly payment was £165.58.
Many people approaching the official retirement age in 2023 may not be aware that this contributory benefit is not paid automatically by the DWP and needs to be claimed, or they could miss out on payments of up to £740.60, every four-week payment period. It is not paid automatically when someone reaches State Pension age as some people choose to defer making a claim in order to keep working and generate more towards their pension pot - especially if they have not paid the full quota of 35 years' worth of National Insurance Contributions.
