| UPDATED: 15:14, Fri, Feb 5, 2021
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State Pension payments provide a regular stream of income for retired people after they depart their hard work from their younger years. However, while state pension payments can offer support in life, Britons will be comforted to know the state pension can also provide support after they have passed away. After a person dies, their state pension could be inherited by their widowed spouse left behind, to ensure they are financially protected during retirement.
| UPDATED: 12:40, Thu, Feb 4, 2021
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State Pension payments usually increase each year in accordance with the Triple Lock Mechanism, which is particularly valued by those receiving the pension sum. The state pension Triple Lock Mechanism sees the sum people receive increase annually by the highest of the following: earnings, the rate of inflation, or 2.5 percent. This year, the increase will be 2.5 percent, as confirmed by Work and Pensions Secretary, Dr Therese Coffey.
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It is important, however, to be aware an individual will not have to have someone caring for them in order to claim Attendance Allowance.
What are Attendance Allowance rates?
Attendance Allowance is split into two separate rates, with the amount a person receives dependent on the level of help they require.
The Attendance Allowance sum is paid weekly to those who are eligible.
The lower rate of Attendance Allowance is currently set at £59.70 - for those who need frequent help or constant supervision during the day, or supervision at night.
State Pension UK: What is State Pension? (Image: EXPRESS)
STATE pension payments are particularly important for millions of people in retirement. However, some are calling upon the Government to increase the sum to provide pensioners with more financial support.
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Pension saving is usually assumed to take place through a combination of workplace and personal arrangements, which, when combined with the state pension, can provide a healthy sum for retirement. However, beneficial help to build up a pension fund such as auto-enrolment has only been introduced in recent years, and still remains a relatively new concept. In addition, many of the older pension schemes, such as Defined Benefit which provides a secure and increasing income for life, have been phased out and replaced with alternatives.