Older state pensioners get £184 benefit from Monday | Personal Finance | Finance
The basic State Pension is rising by 4.8% from April 6 (Image: Getty)
Older state pensioners across the UK can get a £184 per week benefit from Monday following a triple lock change.
State Pension rates increase at the start of every new tax year on April 6 in line with the triple lock, with the increase this year set at 4.8%. The triple lock determines exactly how much State Pension rates rise each year based on whichever is the highest out of three factors – the consumer price index (CPI) measure of inflation (measured for September in the previous year), average wage growth between May and July of the previous year, or 2.5%.
As average wage growth was the highest out of these three factors at 4.8%, State Pension rates are rising by this amount from Monday.
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A pensions motion approved by MPs in February confirmed the 4.8% rise this April, cementing the government’s commitment to the triple lock.
The increase will apply from Monday and will take the full basic State Pension up from £176.45 per week to £184.90 – a weekly increase of £8.45.
Over a full year, this amounts to a total of £9,614.80 in pension payments (up from £9.175.40 previously), giving older pensioners on the full rate an extra £439.40 annually.
Men born before April 6, 1951, and women born before April 6, 1953, receive the basic State Pension, but the amount you get depends on your National Insurance record.
To get the full amount, which will be £184.90 per week from April, a man born between 1945 and 1951 usually requires 30 qualifying National Insurance years, while men born before 1945 require 44 qualifying years.
For women, you’ll need 30 qualifying years if you were born between 1950 and 1953, or 39 qualifying years if you were born before 1950.
If you have less than the full number of qualifying National Insurance years then your basic State Pension will be less than £184.90 per week from Monday.
As for those getting the new State Pension, the weekly rate will rise from £230.25 to £241.30 on April 6 – a weekly increase of £11.05, giving pensioners on the full rate an extra £575 annually.
The figures are based on the maximum possible amount for those with a full qualifying National Insurance record, so those without enough qualifying years will receive less.
The Department for Work and Pensions (DWP) said the government’s commitment to the triple lock means pensioners’ incomes will rise by up to £2,100 over this Parliament, and this year’s uprating will help millions across the UK facing cost of living pressures.
Commenting on the 4.8% increase on Monday, Minister for Pensions Torsten Bell said: “After a lifetime of work and contribution, people deserve a decent retirement.
“Raising the State Pensions faster than prices, ensuring it is a pension they can rely on, is how we make that a reality for millions.”








