Some could now get more than £815 per month
State Pension pay rates are going up next year. , with the much debated rule confirmed to be actioned during Chancellor Jeremy Hunt's Autumn Statement last month. Recipients the Basic and New State Pension payments can now expect an increase in their monthly income from April, 2023.
What that means for the 12.5 million older people across the UK claiming the pension amount is an increase of 10.1% from Spring next year. According to Nottinghamshire Live sister publication, Daily Record, of the overall total number of people in the UK claiming State Pensions, there are 10.1 million currently receiving Basic State Pension payments of up to £141.85 per week, compared to 2.4 million getting New State Pension payments, which are worth up to £185.15 each week.
April's increase will boost those on the full New State Pension from £185.15 per week to £203.85 and those on the Basic State Pension from £141.85 per week to £156.20.However, as financial guru Martin Lewis has been advising, 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, 35 years.
The Department for Work and Pensions , which delivers State Pension payments, shared the proposed list of new payment rates expected from April 10, 2023 on GOV.UK here. Everything you need to know is detailed below for ease.New State Pension payment ratesBasic State Pension payment rates Widow’s Pension Pension Credit Attendance Allowance Carer’s Allowance Disability Living Allowance / Child Disability Payment Care ComponentMobility Component
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
easyJet launches new summer routes from Scotland as 2023 operations to increaseThere will be two new twice-weekly routes departing from Scotland as well as a ninth aircraft based at Edinburgh Airport.
Read more »
The Apprentice 2023 lineup, including Waterloo Road actor and TikTok starThe lineup of contestants for the 2023 series of The Apprentice has reportedly been leaked - here’s who will be trying to impress Alan Sugar.
Read more »
The cricket World Cup in India in 2023 will be more than just a gameIn October 2023 the tournament will return to India for the first time in 12 years. It will be the richest, glitziest and—six months before a general election—most politicised cricket extravaganza ever
Read more »
New Samsung Galaxy S23 rumors point to photo and video upgradesWhat 2023 may bring
Read more »
FIA preparing to shorten DRS zones at certain tracks in 2023The FIA is unhappy with the effect of DRS at some venues and so is considering shortening the zones at selected tracks from 2023.
Read more »
Corrie New Year spoilers as Nina's life at risk and Spider attacked by GriffITV Coronation Street New Year spoilers as horror accident risks Nina's life and Spider attacked by Griff
Read more »