State Pension payments are rising by up to £75 per month next year - here are the new rates

dailyrecord.co.uk:

Basic and New State Pension payments will increase next year by 10.1% after weeks of uncertainty for nearly 12.5 million older people across the UK.

The Department for Work and Pensions (DWP) had declined to commit to whether the Triple Lock rule would return for the 2023/24 financial year after a temporary pause due to the economic fallout from the coronavirus pandemic.However, in his Autumn Statement, Chancellor Jeremy Hunt confirmed State Pensions, disability and working age benefits would increase in line with the September Consumer Price Index (CPI) inflation rate of 10.1%.

The rise will be implemented from April 10, 2023.By honouring the State Pension Triple Lock it means those on the full New State Pension will see payments increase from £185.15 per week to £203.85 and those on the Basic State Pension will see weekly payments rise from £141.85 per week to £156.20.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 DWP 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.

The UK Government shared the new State Pension payment rates on GOV.UK shortly after the Autumn Statement was delivered to Parliament. You are eligible for the New State Pension if you are:New State Pension payment ratesYou are eligible for the Basic State Pension if you are: Basic State Pension payment rates Commenting on the State Pension uprating, John Palmer, Director of Policy and Communications at Independent Age said: “After months of uncertainty, it’s right that the government has kept its promise to uprate both benefits and the State Pension with inflation. “This will