This is by whichever is the highest: the rate of inflation, 2.5 percent, or average earnings for that year.
In the 2020/21 tax year, which started in April, pensioners witnessed an increase of 3.9 percent in line with average earnings.
The State Pension sum is dependent on National Insurance payments, however, the government has outlined maximum entitlements.
Those who retired before April 6, 2016, could receive up to £134.25 per week.
And those who retired after this date could receive a total of £175.25 per week.
Published at Mon, 18 May 2020 07:43:00 +0000