If the state pension increase were to be revised and implemented at five percent, it could make a significant impact on the weekly income of Britain’s pensioners.
The full new state pension would increase by £8.98 per week, up to £118.58. Over the course of a year, that would mean pensioners receiving an extra £466.96.
The full basic state pension would rise by £6.88 and would go to £144.48 each week. That would add up to an additional £357.76 for a year.
So while this would still be quite a bit less than the 8.3 percent increase pensioners could have received, it would mean retirees potentially picking up £178.36 more for the year than they would under the 3.1 percent increase.