The latest statistics from the Department for Work and Pensions (DWP) show that there are now 12.6million people across Great Britain receiving State Pension payments, from the contributory benefit which provides essential financial support every four weeks for those who have paid at least 10 years' worth of National Insurance Contributions.
This regular payment of up to £185.15 per week for the full, new State Pension or £141.85 per week for the basic old State Pension (Category A or B) can be claimed by people who have reached the UK Government’s eligible retirement age, which increased to 66 for both men and women in October 2020. Payments are set to rise by 10.1 per cent from April 10.
However, two further increases have been set out in legislation and are currently under review for a gradual rise to 67 for those born on or after April 1960 and a rise to 68 between 2044 and 2046 for those born on or after April 1977. Much speculation has been made of reports that pension age changes will be brought forward, but no announcement has been made yet - or denied.
