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Older state pensioners across the UK are set to receive £9,614 annual payments from the Department for Work and Pensions ( DWP ) in an announcement expected this Wednesday.

Chancellor Rachel Reeves will deliver the autumn Budget on November 26, where she will outline tax, spending and borrowing plans for the year ahead, with the announcement to affect individuals across the country, as well as businesses and the UK economy as a whole, reports Express.co.uk.

The Government raises State Pension rates every year, and the amount it goes up by is determined by whichever is the highest out of three factors – known as the ‘triple lock’.

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