Significant Pension Increases Set for April: Full State Pension to Rise to £221.20
Sunday, 31 March 2024, 04:00
Important Pension Increases in April
In April, millions of individuals will witness a notable increase in their bank accounts due to changes in state pension rates. The full state pension is on track to rise to £221.20 per week from £203.85, while the old or basic state pension will increase to £169.50 per week from £156.20.
Triple Lock Mechanism at Play
The increase in pension rates is a direct result of the triple lock mechanism, ensuring pensioners receive a fair increase each year.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.