| UPDATED: 21:18, Fri, Mar 12, 2021
Link copied Make the most of your money by signing up to our newsletter for FREE now
SUBSCRIBE Invalid email
When you subscribe we will use the information you provide to send you these newsletters.
Sometimes they ll include recommendations for other related newsletters or services we offer.
Our Privacy Notice explains more about how we use your data, and your rights.
You can unsubscribe at any time.
State Pension payments are provided to people who have reached an eligible age and who have put forward a certain number of National Insurance contributions. The amount is overseen by the Department for Work and Pensions (DWP), responsible for ensuring all pensioners receive the amount to which they are entitled. It is usually the case a person will need at least 10 qualifying years of National Insurance contributions to receive any state pension at all.
| UPDATED: 14:48, Tue, Mar 2, 2021
Link copied Make the most of your money by signing up to our newsletter for FREE now
SUBSCRIBE Invalid email
When you subscribe we will use the information you provide to send you these newsletters. Sometimes they ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time.
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: DWP to increase sum in April - full details of 2021/22 rates | Personal Finance | Finance express.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from express.co.uk Daily Mail and Mail on Sunday newspapers.
STATE pension payments often serve as an important lifeline for those who have reached state pension age. However, according to one expert, an important Triple Lock guarantee could be at risk in the coming weeks.
| UPDATED: 12:40, Thu, Feb 4, 2021
Link copied Make the most of your money by signing up to our newsletter for FREE now
SUBSCRIBE Invalid email
When you subscribe we will use the information you provide to send you these newsletters.
Sometimes they ll include recommendations for other related newsletters or services we offer.
Our Privacy Notice explains more about how we use your data, and your rights.
You can unsubscribe at any time.
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.