From the 12th October, you could be entitled to receive an extra £25 a week in state pension.
This pension “top-up” scheme introduced by the government allows those of pension age to pay a lump sum in order to receive an additional £25 per week. This means that the weekly state pension could be worth at least £151.25.
Who is Eligible?
Men over 65 (born before April 6 1951) and women over 63 (born before April 6 1953) can take advantage of this increased weekly income. To do so, anyone wishing to top-up must pay a one-off lump sum to the government.
How Much Do I Have to Contribute?
Depending on your age and the extra amount you wish to receive each week, the cost of the lump sum will be different. You can find out the exact amount you will need to contribute to receive these “top-up” payments by using the State Pension top-up calculator on the Gov.uk website.