Money
Pensions
Pension rises
The basic state pension will rise by £3.40 from April, taking it to £90.70 a week
The pension for a married woman paid on her husband’s contributions will go up by £2.05 a week to £54.35. These rises are in line with the retail prices index for September, which rose by 3.9%.
If your pension is more or less than these amounts it should rise by that percentage.
The Government raised the Pension Credit guaranteed income for anyone over 60 by £5 a week to £124.05, and for a couple where at least one is over that age by £7.65 to £189.35. This increase is 4.2%, in line with earnings forecasts at the time of the 2007 Budget.
The Chancellor also promised a further rise in April 2009 to at least £130 for a single person. From April, anyone with a weekly income of less than £174 (single) or £255 (couple) should apply for pension credit.
Savings over £6,000 can reduce the amount paid. More at pensionservice.gov.uk or 0800 99 1234.
* This article first appeared in the December edition of Saga Magazine
