Autumn Statement 2015: Basic state pension to rise by almost 3%; Flat-rate set at £155 a week

Chancellor gives pensioners near 3% pay rise

The basic state pension will rise to £119.30 a week from April 2016, Chancellor George Osborne has confirmed.

Addressing the House of Commons, the Chancellor said for pensioners it was the biggest real terms increase in the state pension in 15 years.  It equates to 2.9% and will be worth £174.20 extra a year to someone on a full basic state pension. The government has previously confirmed a 'triple-lock' applies to the state pension, meaning it will rise each April to match the highest out of inflation or 2.5%. After the increase, the full state pension will be worth £1,125 a year more in cash terms than in 2010. The full state pension should have increased by £1,770 by the end of this par...