An additional £2.1bn will be spend on pensions in the next fiscal year, the government says today.
This means the poorest pensioners will have their income lifted to a minimum of £109.45 (£167.05 for couples) per week, an increase of nearly 4%. The basic state pension will increase in line with the Retail Price Index (RPI), and will go up to £82.05 a week for single people and £131.20 a week for couples. Someone with a full basic state pension at the new rate of £82.05 will be able to get a weekly pension of: £90.58 if they wait one year £99.12 if they wait two years £107.65 if they wait three years £116.18 if they wait four years £124.72 if they wait five years The...
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