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

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 ...