Both the basic and the new state pensions could rise as soon as next April – by almost £500 a year
Millions of people living in the UK may see a rise in their state pension – and it could mean an increase of around £460 more a year. The new full state pension is expected to rise by £460 a year from April 2025, latest wages data suggests.
This is because the benefit is calculated based on one of three factors, in this case the average amount of earnings. While the increase won't come in until next April, the rise will be based on the average earnings in the three months to July, which grew by 4%. Men born before 6 April 1951 and women born before 6 April 1953 will get the basic state pension, while those born after these dates and who have reached state pension age will get the new state pension.The full basic state pension is £169.50 per week, while the full rate of the new state pension is £221.20 a week.Who can get the state pension?
While the actual amount will be set nearer to the time, in April 2025, the state pension could be worth:
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