DWP confirms 2023 State Pension 10.1% rise with some eligible for more than £815 a month
State Pension pay rates are set to increase in the new year. Chancellor Jeremy Hunt’s Autumn Statement protected the Triple Lock Rule once again.
Anyone who receives Basic and New State Pension payments should expect to see their monthly income increase from April 2023. For the 12.5 million older people across the UK claiming the pension amount, this means an increase of 10.1% from spring next year, North Wales Live reports..
There are 10.1 million people 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. The figures also show that there are more than 1.9 million people are receiving less than £100 per week in State Pension payments and just under 1.5 million of these are women.
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 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.
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