In April 2020, the UK’s new State Pension will increase..
The increase is expected to be 3.9 percent and to increase the weekly figure to about £175 per week from the current rate of £168.60 per week.
Update: Feb 2020.
Different news reports show different figures, so I guess that the Government hasn’t actually confirmed the EXACT amount.
But it might be about an extra £6.60 per week, or £344 a year.
The full weekly rate of the basic State Pension is also set to increase to £134.25 per week, from £129.20. An extra £5.05 per week. If teh news reports are to be considered accurate.
News Reports:
The new state pension will rise to £175.35 a week from April 2020 (pensionsage.com)
In April 2020, the full rate of the UK’s new State Pension will increase by 3.9 percent to £175.20 per week. (www.express.co.uk)
Those in receipt of the new state pension—those who qualified after 6 April 2016—will see payment hikes of £6.60 a week, taking their payments to £175.50. That’s an annual increase of £343.20. (moneyexpert.com)
Pensioners will be around £350 a year better off, or is that £343.20 or $332.80 ???
At what Age can the UK Pension be claimed?
The UK state pension age is currently 65 years of age for both men and women.
It will increase to 66 by October 2020.
Further age changes are planned to rise to 67 between 2026 and 2028. And then again to age 68 possibly between 2037 and 2039.
These ages are not compulsory, you can continue working if you like. If you keep working, and delay taking your State Pension, you’ll get larger weekly payments when you do start taking it.
Check your State Pension age at: www.gov.uk/state-pension-age
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