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Pension payments to increase next month as new amount confirmed

Nearly 13 million elderly individuals on the State Pension will receive a 4.1 percent increase in payments starting next month, according to the government announcement.
Chancellor Rachel Reeves confirmed the increase aligns with the pension triple lock, which guarantees pension growth based on earnings or inflation, whichever is higher.
Pension Credit is set to rise by 4.1 percent, increasing the standard minimum guarantee to around £11,850 for single pensioners, as stated by Chancellor Reeves.
Parents who took time off work for childcare may risk losing up to £33,000 in retirement benefits unless they check and complete their National Insurance records before April 5.

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manchesterworld.uk

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