How much is state pension rising this year?
Rishi Sunak touched on state pension during his March budget when he set out the UK’s post-Covid fiscal policy.
The benefit is subject to the triple-lock, which guarantees pension growth each year.
The chancellor said he would leave the 2010 guarantee unscathed, preventing real-term cuts for another year.
Those who reached retirement age before April 2016 will rely on basic state pension payments.
With the increase, they still come in lower than their newer counterpart at £137.60 per week in the coming year.
The additional £3.35 increase amounts to a further £174.20 in pensioners’ pockets.
The annual amount will, therefore, increase to a total of £7,155.20.