The honouring of the Triple Lock rule means that older people are set for an income boost of up to £75 per month
Basic and New State Pension payments will soon increase by 10.1 per cent for some 12.6 million older people across the country, including around one million living in Scotland. The honouring of the Triple Lock rule means that older people are set for an income boost of up to £75 per month from April 10, 2023.
Worryingly, there are also an estimated 1.8 million older people receiving less than £100 per week from their State Pension payments.
However, it’s important to note that to be eligible for any State Pension payment you must have at least 10 years’ worth of National Insurance Contributions and to receive the full amount, you will need between 35 and 44 years. People receiving State Pension can choose to be paid either weekly or every four weeks - not to be confused with being paid monthly as the the Department for Work and Pensions makes 13, four-weekly payments each year over a 52-week period, which can result in two payments being made in the same calendar month.
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