State Pension payments are set to increase by 10.1 per cent from April 10 for around 12.6 million people across Great Britain, including more than 992,000 living in Scotland. However, despite a record-breaking rise in payments of the contributory benefit, it is estimated that over 1.8 million pensioners are receiving less than £100 per week in State Pension payments.
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 2.9 million getting the New State Pension, which is worth up to £185.15 each week (rising to £203.85 in April).
Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown warns at least some of those on the lowest State Pension payments could be missing out on Pension Credit, a benefit delivered by the Department for Work and Pensions (DWP) which is worth more than £3,500 each year in financial support, discounts and other benefits which could increase their income.
