All posts tagged: Getty State

DWP confirms £439 extra per year for older state pensioners who retired before 2016

DWP confirms £439 extra per year for older state pensioners who retired before 2016

State pensioners receiving Additional Pension payments from the Department for Work and Pensions (DWP) could pocket an extra £439 annually. Since April 6, eligible older state pensioners have seen their maximum AP payments rise from £222.10 per week to £230.54 per week. This amounts to approximately £439. Numerous individuals will have attained State Pension Age or accrued qualifying years prior to April 6, 2016. The framework in place before that date primarily comprised two state pensions: the Basic State Pension and the Additional State Pension. The Basic State Pension resembles the new State Pension, functioning as a flat-rate pension benefit (governed by distinct regulations). The present full rate of Basic State Pension stands at £169.50 per week. This figure will climb to £176.45 per week in April 2025. The £361 annual increase was confirmed in the Budget delivered on October 30, 2024, reports Birmingham Live. The Additional State Pension principally encompasses two earnings-linked pension benefits operational between 1978 and 2002 (SERPS) and from 2002 to 2016 (the State Second Pension). These were disbursed alongside the …