The Office for National Statistics has confirmed the pay number for the three months to July was 8.5 per cent. However, there is speculation that Work and Pensions Secretary Mel Stride might opt to use 'regular' pay instead of 'total' pay.
Implementing the higher increase would mean a full basic state pension going from £156.20 per week to £169.50. A full new state pension – typically offered to those who reached state pension age after April 2016 – could rise from £203.85 per week to £221.20 next year He stressed the need for any increases to take into account 'affordability and the position of the economy'.Using the lower level would affect 12.5 million older people. It would mean that someone on the new state pension would get an extra £15.90 a week next year instead of £17.33, costing them around £74 a year.