Millions of people are set to be affected by changes coming in the budget (Image: WalesOnline/Rob Browne)

Chancellor Rachel Reeves is expected to announce that 13m pensioners will get an above-inflation rise to the state pension next April with those on the full rate of the new state pension set to receive a hike of more than £550.

The trail of the announcement comes ahead of her crucial budget on November 26. From next April the rate of the full new state pension is expected to increase to just over £240 a week in an increase worth more than £550 a year. That is an extra £120 compared to what it would have been if it had been uprated only by inflation.

The full basic state pension is expected to rise by around an extra £440 a year. For our free daily briefing on the biggest issues

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