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The DWP-funded state pension is set to increase in April along with other pensioner benefits. As the cost of living crisis continues to take its toll in households across the UK, many low income households could be struggling to make ends meet.
One of the most vulnerable group said to be hit the worst by the crisis are pensioners. In April the state pension amount is increasing along with pensioner benefits like Pension Credit and Attendance Allowance, Lancaster Live reports.
But people may not know how much more they can expect to get. Check out the list below to find out.
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State Pension
From Monday April 10 onwards anyone receiving the full new state pension will get an extra £19 a week while anyone who reached state pension age before April 2016 (and is in receipt of the full basic state pension) will get an extra £14 weekly, the Express reports.
That takes the former to £10,600 a year or £203.85 per week for 2023/24, from £185.15 in the last financial year, and the latter to £8,100 a year or £156.20, up from £141.85.
Full New State Pension: £203.85 (from £185.15)
Basic Old State Pension (Category A or B): £156.20 (from £141.85)
People need to have made at least 10 years’ worth of National Insurance (NI) contributions to receive any form of state pension, and 35 years’ if they hope to receive the full amount.
Widow’s Pension
Standard rate: £139.10 (increase from £126.35)
Attendance Allowance
There two rates, the lower rate and the higher rate, this is calculated based on how much help is required, not any current help the person does or doesn’t get.
The 10.1 percent payment boost means people on the lower rate will see their payments increase to £68.10 while the upper rate will increase to £101.73.
Pensioners will therefore get between £247.40 and £406.92 every four weeks.
Higher rate: £101.75 (from £92.40)
Lower rate: £68.10 (from £61.85)
Individuals can apply for Attendance Allowance by filling in the claim form, available on the Government website, and then sending it off in the post.
Pension Credit
The Pension Credit standard minimum guarantee will meanwhile also increase by 10.1 per cent in line with CPI inflation, taking its amounts to £201.05 a week, up £18.45 for a single claimants and £306.85, up £28.15 per week for couples.
Single: £201.05 (from £182.60)
Couple: £306.85 (from £278.70)
The online calculator can be used to check eligibility or by calling the Pension Credit helpline on 0800 99 1234.
Pension Credit can act as a gateway benefit as people qualify for other things such as:
- Housing Benefit if they rent the property they live in
- Support for Mortgage Interest if they own the property they live in
- Council Tax discount
- Free TV licence if they are aged 75 or over
- Help with NHS dental treatment, glasses and transport costs for hospital appointments
- Help with their heating costs through the Warm Home Discount Scheme
- A discount on the Royal Mail redirection service if they are moving house.
In late 2023, eight million pensioner households will also get a £300 Cost of Living payment. The £300 payment will be made on top of Winter Fuel payments, which in late 2022 were made to nearly every pensioner who turned 66 born before September 26, 2022.
Those who reach the state pension age before September 25, 2023, can expect, the Winter Fuel and Cost of Living Payments to be made. That means most people born before September 25, 1957 will get Winter Fuel Payments plus an extra £300. The amount paid in Winter Fuel Payments can vary depending on who the person lives with, their age and if they claim any benefits other than a pension, but the £300 Cost of Living Payment is the same for everybody who qualifies.
The DWP said: “Exact payment windows will be announced closer to the time but the 2022/2023 payments were made from November, so expect a similar timescale in Winter 2023/2024.”
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