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As the cost of living crisis continues, many families on low incomes could be struggling to keep up with rising price. Pensioners are amongst the most vulnerable groups which could most benefit from benefit rate rises to come.
The state pension is increasing in April along with pensioner benefits like Pension Credit and Attendance Allowance, but exactly how much more can people expect?
State Pension
Anyone receiving the full new state pension will get an extra £19 a week from Monday April 10 onwards while anyone who reached state pension age before April 2016 (and is in receipt of the full basic state pension) will get an extra £14 weekly.
That takes the former to £10,600 a year or £203.85 per week for 2023/24, from £185.15 in the last financial year, and the latter to £8,100 a year or £156.20, up from £141.85.
Full New State Pension: £203.85 (from £185.15)
Basic Old State Pension (Category A or B): £156.20 (from £141.85)
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It should be noted that to receive any form of state pension, people need to have made at least 10 years’ worth of National Insurance (NI) contributions and 35 years’ if they hope to receive the full amount.
Widow’s Pension
Standard rate: £139.10 (increase from £126.35)
Attendance Allowance
Attendance Allowance is paid at two rates, the lower rate and the higher rate.
The amount eligible claimants receive is calculated based on how much help is required, not any current help the person does or doesn’t get.
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Eight million pensioner households will also get a £300 Cost of Living payment in late 2023.
The £300 payment will be made on top of Winter Fuel payments, which in late 2022 were made to nearly every pensioner who turned 66 born before September 26, 2022.
In winter 2023/2024, the Winter Fuel and Cost of Living Payments are expected to be made to those who reach the state pension age before September 25, 2023.
That means most people born before September 25, 1957 will get Winter Fuel Payments plus an extra £300.
The amount paid in Winter Fuel Payments can vary depending on who the person lives with, their age and if they claim any benefits other than a pension, but the £300 Cost of Living Payment is the same for everybody who qualifies.
The DWP said: “Exact payment windows will be announced closer to the time but the 2022/2023 payments were made from November, so expect a similar timescale in Winter 2023/2024.”
