New state pension weekly payments due from next April - full list of increases

Starting next April, millions of retired Britons will receive an increase to their state pension payments. This rise is set to be 4.8%, in line with the total earnings growth for the quarter ending in July. The state pension increases annually based on the highest of three factors: total earnings growth, the Consumer Prices Index (CPI) inflation, or 2.5%. With September's CPI at 3.8%, the increase will be determined by earnings growth. The full new state pension will increase to £241.30 per week, amounting to £12,547 annually. The maximum basic state pension will rise to £184.90 per week, or £9,614 annually. Eligibility for the full new state pension requires approximately 35 years of National Insurance contributions, though this can vary for those who were "contracted out" of certain schemes. Industry experts have cautioned that t... download the app to read more