State pension increases today - how much you will get and what it means

manchestereveningnews.co.uk:

Millions of retired Brits across the country will see a much-needed increase in their state pension from today. Previously, the Chancellor confirmed that the triple lock will return after it was downgraded to a double lock last year following economic challenges from the Covid pandemic.

The triple lock ensures that state pensions rise by either the highest of average earnings, Consumer Price Index (CPI), or by 2.5 per cent; whichever amount is higher.

From today, state pensions will rise by last September's inflation rate of 10.1 per cent, meaning the full new state pension will rise from £175.15 and the basic state pension will rise from £141.85. Read more: The supermarket which was among cheapest now ranking as most expensive Here's a complete breakdown of how your pensions will change from today...

There are two different varieties of state pensions. Your date of birth will determine whether you are claiming the new state pension or the basic state pension.