State pensioners given £241 payment as new pension rates confirmed

State pensioners across the UK will be given a £241 weekly payment from next April as new State Pension rates have been confirmed.

Chancellor Rachel Reeves delivered the autumn Budget on Wednesday, November 26, outlining the government’s tax, spending and borrowing plans for the year ahead. The government has now confirmed its commitment to the pension triple lock which means that the State Pension will rise by 4.8% from April, in line with average wage growth. State Pension rates ae increased at the start of every new tax year and the amount it goes up is determined by whichever is the highest out of three factors – known as the ‘triple lock’. These include the consumer price index (CPI) measure of inflation (measured for September in the previous year), average wage growth b