Chancellor Rachel Reeves is expected to confirm the uplift to the state pension at this week's Budget, with the payment rising to just over £240-per-week for millions

Millions of pensioners on the full state pension are set to receive over £550 more a year from 2026.

Chancellor Rachel Reeves is expected to confirm the uplift at this week's Budget , with the state pension rising to just over £240-per-week.

The current state pension rate stands at £230.25-per-week but is guaranteed to rise due to the triple lock policy. Under the measure the state pension increases annually by the highest of inflation, average earnings growth, or 2.5%. READ MORE : Rachel Reeves gears up for possible Budget energy bill cut - how much you could save READ MORE : Pension warning for anyone who i

See Full Page