💨 Abstract

Pensioners are expected to receive a 4% increase in their State Pension payments next year, with the exact amount depending on whether they receive the old or new state pension. The increase is due to the Triple Lock mechanism, which raises payments by the higher of earnings, inflation, or 2.5%. The new full state pension is currently £221.20 a week, meaning a 4% increase would bring it to £230.05

Courtesy: www.thesun.co.uk