DWP pension changes from April - including £900 payment boost and tax shake-up

The Department of Work and Pensions confirmed that benefits and other sources of income that many pensioners rely on will see an increase. However, there will also be a major change to one component of pensions that could leave some better off and some worse off.Read more: Waspi calculator shows if you may be entitled to compensation over pension changes

The new state pension can be claimed by people who have reached state pension age and were born on or after April 6, 1951 if they are men, or on or after April 6, 1953 if they are women. At present, the full new state pension is £203.85 per week, however, it will go up to £221.20 - a rise of £17.35 a week, or just over £900 a year.

Lifetime Allowance shakeup The pension Lifetime Allowance will be abolished from April 2024. This is the total amount you can save in all your pensions without having to pay extra tax.

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