After months of 'will they, won't they' debates when it comes to pension increases, news that the Government had confirmed the state pension would be raised amid the cost-of-living crisis was welcomed by many. Chancellor Jeremy Hunt confirmed the increase in his Autumn Statement last week.
State pension increases could mean hundreds of pounds a year extra for some in 2023. Payments are set to rise by 10.1 per cent in line with inflation, maintaining the triple lock. This means that the new state pension will increase by nearly £75 a month, while basic state pension claimants will get over £55 extra a month.
The Government has now given an example of how the new rates are estimated to look from April 2023, reported Chronicle Live. So, if you receive either the new or basic state pension and/or pension credit, here's how much you'll get per week from the spring compared to the current rates.
