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State Pension will rise next year - here's the new weekly rate

26.11.2020 - 18:50

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dailyrecord.co.uk

dailyrecord.co.uk:

State Pension payments are a lifeline for thousands of people in the UK and will increase by 2.5% next year. This means that those on the full, new State Pension will receive £179.60 per week, an increase of £4.40 on the current rate of £175.20.

Pension experts said the announcement about the changes in the 2021/22 tax year sends out a "difficult message" at a time when many of the working population are facing pay freezes.

Highlighting concerns about fairness between the generations, they pointed out that pensions were funded by the National Insurance contributions of current workers.

The changes were confirmed in a written statement made by Secretary of State for Work and Pensions, Dr Therese Coffey. Under the "triple lock" system, State.

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