New State Pension payments could increase to more than £200 per week from next year
The latest figures from the Department for Work and Pensions show that in August the number of people receiving the State Pension rose by 1.1% to 12.5 million across the UK, of which more than one million are living in Scotland.
In April this year, benefits delivered by DWP and State Pension, increased by 3.1% following the temporary suspension of the triple lock guarantee. The triple lock rule ensures that State Pension increases each year in line with whichever is highest of inflation as measured by the CPI, average earnings, or 2.
“This means pensioners are in line for a significant pension boost next year as long as the government keeps its pledge to keep the triple lock. Helen added: “Last year’s 3.1% increase was no match for soaring inflation and has left many pensioners struggling and so a more generous increase will be welcomed. However, any such increase will not kick in until April which feels a very long way away right now for those struggling to make ends meet."
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