A 2.5% rise means those who retired before 2016 will receive £137.60 from April, while newer retirees will get the £175.20 basic rate. To qualify for the full state pension, you need to have amassed 35 credits over your working life – that’s 35 years of work. "The Standard Minimum Guarantee in Pension Credit will also increase by the same cash amount as the basic State Pension, rising by 1.9%," Coffey added. (Image: PA)Sarah Coles, finance analyst at Hargreaves Lansdown said: “The state pension is rising on April 5, faster than any other state support this year. “The state pension is the bedrock of most people’s retirement income, so the triple lock is incredibly valuable.

Source: Daily Mirror March 30, 2021 14:51 UTC