Rachel Reeves, state pension
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Chancellor Rachel Reeves has said 13m pensioners will get an above-inflation rise to the state pension. The basic and new state pension will be increased by 4.8%, from April 2026, in line with average weekly earnings up to an additional £575 per year to pensioners, depending on their entitlement.
In the latest episode of The Martin Lewis Money Show Live, the consumer champion warned that the New State Pension - for people who retired after April 2016 - will be higher than the Personal Allowance,
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Government confirms new State Pension rates - with some over 65s set to get over £500 more a year
Chancellor Rachel Reeves confirmed that the 4.8% figure is the amount that State Pensions will be increased by in April at her Budget on Wednesday. The Government also confirmed it is committed to maintaining the Triple Lock for the duration of this Parliament to support the incomes of over 12 million pensioners.
The Department is continuing its awareness campaign until the end of the current financial year, encouraging people to check their eligibility and make a claim. Married pensioners with a combined weekly income of less than £346 per week, or single pensioners with an income of below £227.10 could be eligible for Pension Credit.
New call for £25,140 personal tax allowance for people over State Pension age READ MORE: Pensioners can claim two benefits which boost annual income to nearly £18,000
The most straightforward way to check eligibility for any benefit, discount, or reduction is to use an online benefits calculator.
Thousands of people – particularly unpaid carers and parents who’ve taken time out of work – are being urged to check if they qualify