State Pension Set to Rise Nearly £500 Next Year The state pension is set to increase by nearly £500 next year, providing much needed relief for millions of retirees struggling on fixed incomes. The 3.
9 per cent rise will see the full new state pension jump from £241. 30 to approximately £250. 70 per week.
This increase will surpass the personal allowance of tax free income, meaning those relying solely on the state pension will not have to worry about paying taxes on their benefits.