Boost for OAPs as state pension increases by £900 a year

THERE has been some good news for OAPs with the announcement that the state pension has gone up by 8.5 per cent.

This means pensioners receiving the new state pension will get an extra £900 a year. The full yearly basic state pension will also be £3700 more than in 2010, while the full rate of the new state pension will be over £11,500 a year.

Pension Credit, a passport benefit to provide additional support for low-income pensioners, will also see a significant rise, with the average award worth over £3900. The Department of Work and Pensions DWP is also increasing Local Housing Allowance rates, putting £800 back in the pockets of over 1.5 million recipients of Universal Credit or Housing Benefit.

Secretary of State for Work and Pensions, Mel Stride MP said: “Thanks to the Triple Lock and our efforts to drive down inflation, we are putting money back in the pockets of pensioners.

“This is only possible because we have stuck to our plan and our economy has turned a corner.

“This will make a meaningful difference to all those who rely on the state pension and ensure we continue to provide a safety net for those who need it most while making work pay wherever possible.”

Scottish Secretary Alister Jack added: “The UK government’s decision to increase the state pension by 8.5 percent will make a meaningful difference to over a million pensioners across Scotland.