State pension increase 2022: Payments to rise by almost £300

This was confirmed by the Office of National Statistics (ONS), who revealed that CPI inflation was at that level, which was still down slightly from 3.2 per cent in August.

The pension scheme is protected by 'double lock' which means that next April it would increase by either September’s rate of inflation or a guaranteed minimum of 2.5 per cent.

Whatever figure was higher would have been the one picked.

CPI inflation down a touch to 3.1% in Sep from 3.2% in Aug, with reduced effect from eat out to help out last year
To protect pay, next week Chancellor must fund government departments to deliver real pay rises for public sector workers. And need major boost to min wage. pic.twitter.com/MXMQdWf43T

— TUC Economics and Social Affairs (@TUCeconomics) October 20, 2021

This is due to the 'triple lock' system that is usually in place being suspended for the year following high earnings growth after the coronavirus pandemic.

How much will pensioners get in 2022?

According to Which? pensioners who are entitled to the full new single-tier state pension will get £185.15 a week from 6 April 2022, up from £179.60.

The change means pensioners will be up to £288.60 better off by the end of the 2022-23 tax year, taking their total income to £9,627.80.

Pensioners that reached state pension age before April 2016 and receive the basic state pension will see their weekly pension payments rise from £137.60 to £141.85 next year.

This amounts to a £221 pay rise in 2022-23, with income rising to £7,376.20 a year.

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