The autumn budget has been announced today
In the Autumn Budget today, October 30, Chancellor Rachel Reeves has confirmed State Pensioners are to receive a 4.1 percent increase to their payments from April 2025. The full new state pension will be boosted by over £470 a year. People on the full basic state pension will benefit from an extra £361.40 a year as their payments rise from £169.50 a week up to £176.45 a week.
She added: “The pension credit standard minimum guarantee will also rise by 4.1% from around £11,400 per year to around £11,850 for a single pensioner.” The Treasury posted to X, formerly known as Twitter : 'We want to give retired workers the long-term financial security they need. That’s why in 2025-26 we’re increasing the State Pension by up to £470 in line with the Triple Lock.
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