The Department for Work and Pensions (DWP) has confirmed that State Pension payments will increase by 3.1% in line with the Consumer Price Index (CPI) from April 11, 2022.
People receiving State Pension can choose to be paid either weekly or every four weeks - not to be confused with being paid monthly as the DWP makes 13, four-weekly payments each year over a 52-week period which can result in two payments being made in the same calendar month.
The upcoming increase means that the basic State Pension will rise to £141.85 per week from £137.60 and the full new State Pension will go up to £185.15 from £179.60.
The decision was confirmed after The Social Security (Up-rating of Benefits) Act 2021 received Royal Assent in November. This legislation temporarily suspended the earnings element of the Triple Lock for one year only, following distortions to the earnings statistics brought about by the economic impact of the coronavirus pandemic.
Read more on dailyrecord.co.uk
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.