Basic state pension to rise by almost 3%; Flat-rate set at £155 a week

Chancellor gives pensioners near 3% pay rise

Jenna Towler
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The basic state pension will rise to £119.30 a week from April 2016, George Osborne has confirmed.

Addressing the House of Commons, the Chancellor said it was the biggest real terms increase to the state pension in 15 years.  He also confirmed the flat-rate state pension, which will be brought in from April next year, will be set at £155 a week. Osborne said it was a "commitment to those who have worked hard and contributed to society". It equates to 2.9% and will be worth £174.20 extra a year to someone on a full basic state pension. The government has previously confirmed a 'triple-lock' applies to the state pension, meaning it will rise each April to match the highest out ...

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