| UPDATED: 14:48, Tue, Mar 2, 2021
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State Pension payments ultimately vary according to a person’s National Insurance contributions, however, the full sum currently stands at £175.20 per week. The Triple Lock Mechanism ensures pensioners receive an increase each year by the highest of the following: 2.5 percent, inflation, or average earnings growth. Due to Brexit, there were concerns pensioners who retired overseas could miss out on the annual uprating.
STATE pension payments increase each year due to the Triple Lock Mechanism, with increases protected for British pensioners living overseas, but only in certain countries. This has proved an issue, which many have called upon the government to rectify.
| UPDATED: 14:18, Thu, Jan 7, 2021
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State pension payments are overseen by the Department for Work and Pensions (DWP), responsible for ensuring pensioners receive the correct amount to which they are entitled. At present, the full state pension sum stands at £175.20 per week but is dependent on National Insurance contributions made throughout a person s lifetime. It is, however, important to note the government states a person may receive less if they were contracted out before April 6, 2016.