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<\/p>\nMILLIONS of grandparents are set to benefit from a bumper pay rise next year.<\/p>\n
The state pension rises every year in order to keep up with the cost of things like food and household\u00a0bills.<\/p>\n
<\/p>\n
It has now been confirmed that payments will increase by 8.5% in April 2024.<\/p>\n
That's because the\u00a0triple lock\u00a0system\u00a0sees the\u00a0state pension\u00a0rise in line with whatever is highest out of: wages for May to July, 2.5% or September's\u00a0inflation\u00a0figures.<\/p>\n
Growth in\u00a0employees'\u00a0average total pay was 8.5%\u00a0in the three months to July, while the\u00a0UK's rate of inflation remained at 6.7%\u00a0in September.<\/p>\n
It means pensioners on the new state pension will be looking at as much as \u00a3901 a year.<\/p>\n
This is up from just over\u00a0\u00a310,600 to \u00a311,501 a year.<\/p>\n And a weekly rise from \u00a3203.85 to \u00a3221.20 – a \u00a317.35 increase.<\/p>\n It's important to note though that this is for those entitled to a "full" new state pension.<\/p>\n How much individuals get is based on the number of qualifying years they've accrued.<\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n Older pensioners who retired before April 2016 will get a weekly rise from \u00a3156.20 to \u00a3169.48, and an annual rise from \u00a38,122.40 to \u00a38,812.96.<\/p>\n Other elements of the old state pension system, mainly "additional" state pensions such as SERPS, will rise in line with the increase in CPI inflation for September which was 6.7%.<\/p>\n Retirees on\u00a0pension credit and\u00a0attendance allowance\u00a0and\u00a0will also be getting a top-up.<\/p>\n But the increases are different for each one, here we explain each.<\/p>\n<\/p>\n Retirees on a low income can get it topped up via Pension credit.<\/p>\n It is also set to rise in line with July's wages data at 8.5%.<\/p>\n Pension Credit will rise from\u00a0\u00a3201.05\u00a0to \u00a3218.15 or for couples, from\u00a0\u00a3306.85 to \u00a3332.95.<\/p>\n If your income is lower than this, you should be eligible for the benefit.<\/p>\n You could get the "Savings Credit" part of Pension Credit if both of the following apply:<\/p>\n This part of Pension Credit will rise from \u00a315.94 a week to\u00a0\u00a317.29\u00a0or for couples, from \u00a317.84 to \u00a319.39.<\/p>\n There are also top-up amounts, for instance, if you're caring for someone else or are disabled.<\/p>\n You can find out more about\u00a0Pension Credit including how to apply in our guide.<\/p>\n Attendance allowance\u00a0is paid to people who've reached\u00a0state pension\u00a0age and need help looking after themselves because of a physical or mental\u00a0disability.<\/p>\n To get the benefit, you must have been in Britain for at least two of the last three years, unless you\u2019re a refugee or have humanitarian protection status.<\/p>\n If you live in a\u00a0care home\u00a0and pay for all the costs yourself, you'll be able to claim attendance allowance.<\/p>\n It's paid at two different rates and how much you get depends on the level of care that you need because of your\u00a0disability.<\/p>\n The lower rate is worth \u00a368.10 a week.<\/p>\n From next April, payments will rise from \u00a368.10 to \u00a372.66 a week – a rise of \u00a34.56.<\/p>\n The higher rate is worth \u00a3101.75 weekly, which will rise to \u00a3108.56.<\/p>\n To apply, you'll need to download the attendance allowance form on the\u00a0GOV.UK website\u00a0and then send it by post.<\/p>\n It should be sent to the address: Attendance Allowance Unit, Mail Handling Site A, Wolverhampton WV98 2AD.<\/p>\n If you're unable to print the form yourself, you can call the attendance allowance helpline on 0800 731 0122 and ask for a copy to be sent to you.<\/p>\n It's worth applying, especially as you may get extra pension credit and housing benefit or a\u00a0council tax\u00a0reduction if you receive attendance allowance.<\/p>\n The application form is very long and asks for a lot of personal information.<\/p>\n If you think you'll need help filling in the form, you should get a friend, relative or adviser to help you complete it if possible.<\/p>\n Entitledto has a full list of organisations that can help with claiming disability benefits on its\u00a0website.<\/p>\n The amount of new state pension you receive depends on your\u00a0National Insurance (NI) record\u00a0throughout your adult life.\u00a0<\/p>\n If you have made at least 35 years of qualifying NI contributions, you may qualify for the maximum amount, outlined above.\u00a0<\/p>\n The same is true if you have received equivalent credits on your NI record for raising children or providing care.\u00a0<\/p>\n If you don\u2019t have 35 years, you may be able to top up your record by paying in voluntary NI contributions.\u00a0<\/p>\n To get the full basic state pension you will need 30 years of NI contributions or credits.\u00a0<\/p>\n To get any state pension at all, you will need at least 10 years on your NI record.\u00a0<\/p>\n In response to rising life expectancy, the age at which you become eligible to receive the state pension has been going up.<\/p>\n The age is\u00a0now 66\u00a0for both men and women and is set to reach 68 by 2039.<\/p>\n You won\u2019t automatically get the state pension – you need to claim it once you\u2019re eligible.<\/p>\n You should receive a letter no later than two months before you reach state pension age, explaining what to do.<\/p>\n You can find out more\u00a0on the GOV.UK website.\u00a0<\/p>\n You can choose to defer getting the state pension – you don't have to take it as soon as you are eligible when you reach state pension age.<\/p>\n Leaving your state pension untouched can boost the amount you eventually get.<\/p>\n If you opt to defer your state pension, your entitlement increases by the equivalent of 1% for every five weeks you do so.<\/p>\n![](\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/09\/macro-image-several-gbp-notes-841481220-1.jpg\")
<\/picture>HELPING HAND <\/span><\/p>\nJust weeks left for 1000s of pensioners to get \u00a3201 a week & \u00a3300 payment<\/h3>\n
![](\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/11\/new-pensions-explainer-jmac.jpg\")
<\/picture>PENSION PLEDGES <\/span><\/p>\nAll the major pension changes revealed in the Autumn Statement <\/h3>\n
Most read in Money<\/h2>\n
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<\/picture>CASH OUT <\/span><\/p>\nMajor UK bank to shut 45 high street branches – see if you’re affected<\/h3>\n
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<\/picture>HOLIDAYS ARE COMING <\/span><\/p>\nCoca-Cola Christmas truck tour dates revealed – is it coming to you?<\/h3>\n
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<\/picture>CASH IN <\/span><\/p>\nList of 280 postcodes getting \u00a325 cold weather payments direct to bank accounts<\/h3>\n
Pension Credit<\/h2>\n
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Attendance allowance<\/h2>\n
How much state pension will I actually get?<\/h2>\n
What age do I get the state pension?<\/h2>\n
How do I claim the state pension?<\/h2>\n
Read More on The Sun<\/h2>\n
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