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State pensioners are set to receive as much as £575 additional income over the coming year. Fresh pension rates have now been announced for 2026/27, meaning those in retirement will benefit from several hundred pounds extra annually.

The sum individuals receive will vary depending on which pension scheme they fall under. Within the UK, there exist two distinct versions of the state pension : the traditional basic scheme and the more recent full pension arrangement, reports Birmingham Live .

Individuals who entered retirement post-April 2016 stand to gain an additional £545, whilst those remaining on the basic pension can anticipate a £440 increase.

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