Basic state pension to rise to £119 a week

The BBC reported the basic state pension will get its biggest rise since 2001. The increase equates to 2.9% and will be worth £174.20 extra a year to someone on a full basic state pension. Pensions minister Ros Altmann said pensioners had “done their best for society, worked hard, and we owe them”. The Treasury said it was meeting its pledge to deliver “security for older people as savings are made in other budgets”. The government has previously confirmed a 'triple-lock' applies to the state pension, meaning it will rise each April to match the highest out of inflation or 2.5%. ...