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Pension payments to increase next month as new amount confirmed

  • Nearly 13 million elderly individuals on the State Pension will receive a 4.1 percent increase in payments starting next month, according to the government announcement.
  • Chancellor Rachel Reeves confirmed the increase aligns with the pension triple lock, which guarantees pension growth based on earnings or inflation, whichever is higher.
  • Pension Credit is set to rise by 4.1 percent, increasing the standard minimum guarantee to around £11,850 for single pensioners, as stated by Chancellor Reeves.
  • Parents who took time off work for childcare may risk losing up to £33,000 in retirement benefits unless they check and complete their National Insurance records before April 5.
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Bereavement support payment: how much will UK allowance benefit rise in April 2025 - Widow's Pension rates

Starting in April, many payments will get a much-needed boost to support families 💰

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The Northern Echo broke the news in County Durham, United Kingdom on Monday, March 3, 2025.
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