Pension pot: OAPs to receive rise worth more than £350 a year

Those who reached state pension age after April 6, 2016 and are entitled to the full New State Pension will see their weekly payments rise from £168.60 to £175.20. Those who reached state pension age before then and are receiving the full Basic State Pension will get £134.25, up from £129.20. Some will also be receiving a state earnings-related pension. Under current "triple lock" rules, the state pension has been rising at the highest of earnings inflation, price inflation or 2.5 percent a year. 

This year it will be uprated against earnings growth of 3.9 percent, the highest of these benchmarks, and more than double the rise in inflation-linked benefits and tax credits. 

Steven Cameron, of retirement specialist Aegon, said: "With many people including pensioners facing financial difficulties to cover basic expenses, any extra, however little, helps. 

"This inflation-busting increase offers state pensioners some much-needed good news." 

Tom Selby, from investment firm AJ Bell, said: "This is particularly welcome as dividends, which provide a

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