State pensioners will see extra money drop into their bank accounts from next week.
The state pension rate is increasing for 2025 during April and new payments will start within days.
The amount increases every year under the Government’s triple lock guarantee.
READ MORE: New £200 spring cost of living payments entering bank accounts in April
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Over the coming days, pensioners will see a change to their regular payments.
The exact date of the state pension increase for 2025 is April 6, so payments will be affected from next week.
The new state pension, paid to those who retired after April 2016, will rise from £221.20 a week to £230.25.
That works out to extra £36.20 a month extra entering bank accounts, and is worth an extra £470 a year.
Those who retired before 2016 are on the different, old state pension and will get up to £176.45 a week, up from £169.70.
Under the rules of the triple lock, the state pension is going up by 4.1% this year.
They state payments rise each year to match whatever is highest out of inflation, wage growth or 2.5%.
This year it is rising by 4.1% to match wage growth from last year.
The triple lock aims to ensure pensioners are not left behind and their payments keep up with prices in shops and rising bills, though critics point out pensioners have received much kinder increases than benefit claimants over recent years.
Fiona Peake, consumer money expert at Ocean Finance, said: “Good news for pensioners – state pensions will rise by 4.1% from April 6, adding £472 annual payments.”
Keir Starmer said this week: “We can commit to triple lock because we restored stability after they (the Conservatives) crashed the economy.
“Twelve million pensioners will receive up to £470 more.”
Attacking his rivals, he added: “The Shadow Chancellor called triple lock unsustainable and the leader of the opposition wants to means test the triple lock so she can cut it.”
