Payments for the New and Basic State Pension are paid every four weeks.
Basic and New State Pension payments will increase next year by 10.1% for some 12.5 million older people across the UK, including 992,052 living in Scotland. The honouring of the Triple Lock rule was confirmed last month during Chancellor Jeremy Hunt’s Autumn Statement and means that older people are set for an income boost from April, 2023.
By honouring the State Pension Triple Lock it means those on the full New State Pension will see payments increase from £185.15 per week to £203.85 and those on the Basic State Pension will see weekly payments rise from £141.85 per week to £156.20. People receiving State Pension can choose to be paid either weekly or every four weeks - not to be confused with being paid monthly as the DWP makes 13, four-weekly payments each year over a 52-week period, which can result in two payments being made in the same calendar month. But most people refer to the four-weekly payment cycle as ‘monthly’ and that is the intention here, just to make it easier to understand the increased amount.
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