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Legal & money

State pension rise - 6 April

(3 Posts)
GracesGranMK3 Thu 26-Dec-19 12:04:17

State pension payouts are set to rise by 3.9% in April - probably. We can be almost certain of this - but not quite 100%.

Much like minimum wage, these are normally announced in the Budget. Given that was postponed the official rate isn't known yet.

That said, the Government has guaranteed the rules won't change around pension rises - and under those rules, retired Brits are in line for a 3.9% increase adding £5.05 a week to the ‘old’ basic state pension and £6.60 a week to the ‘new’ state pension.

PamelaJ1 Thu 26-Dec-19 13:16:20

Are you planning on using this to payoff the overspending on your credit cards this Christmas?🤔

GracesGranMK3 Thu 26-Dec-19 22:22:03

Just passing on a bit of information PamelaJ. Interesting that those on the old pension will continue to drop behind those on the new one. It seems the poorest will be the oldest eventually.