State Pension Increases 2013
Published / Last Updated on 14/03/2014
Budget Dec 2012 - State Pension Increases 2013
State pension will increase by 2.5% (unlike most other benefits that will only increase by 1%).
In April 2013, the main full basic state pension will increase to £110.15 per week.
Given that the income tax free allowance for pensioners is not increasing, this indirectly means pensioners will be poorer.
The Chancellor also confirmed that the Flat rate State Pension is still on the agenda.
Increases to state pension age, the abolition of second tier state pensions (the State Second Pension, formerly SERPS) have already gone and commitments to state pension age increases and the life expectancy increases remain.
In short, pensioners today can bemoan their lot but it is the workers of today i.e. pensioners of tomorrow that will be in an even worse position and have to wait longer before they receive their flat rate state pension.
Back to UK Budget December 2012 Summary