THE exact amount the state pension will rise by is set to be confirmed in a matter of weeks.

Millions of people are expected to get a bumper rise of £460 to their state pension next year.

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However, this will not be official until September’s inflation rate is released by the Office for National Statistics.

That’s because the triple lock system sees the state pension rise in line with whatever is highest out of: wages for May to July, 2.5% or September’s inflation figures.

Growth in employees’ average total pay was 4% in the three months to July.

While the UK’s rate of inflation remained at 2.2% in August after rising to the same figure the month before.

With inflation highly unlikely to rise above 4% in September, it means the state pension is expected to rise from £11,502.40 to £11,962 per year – a £460 boost.

Although, this will not be confirmed officially until October 16, when the previous month’s rate is announced.

Weekly it would mean a rise from £221.20 to around £230, an increase of almost £9 a week.

Meanwhile, older pensioners who retired before April 2016 will see their weekly payment rise from £169.50 to £176.30 – an increase of £6.80.

Annually, their payments will rise from £8,814 to £9,167, adding £353 a year.

Although it’s worth noting, people on the old system who also have “additional” state pension (SERPS) will see that part of their pension rise only in line with inflation which hasn’t been published yet.

Any decision on a pension increase will be made by Secretary of State Liz Kendall ahead of October’s budget.

The state pension is increased each year in line with the triple lock mechanism, which all major political parties committed to before the general election in July.

Earlier this month, Chancellor Rachel Reeves reaffirmed the Government’s backing of the triple lock until the end of this Parliament.

How much is the state pension?

State pension payments increase every April.

This year, the full rate of the new state pension rose from £203.85 a week to £221.20 – rising 8.5% in line with last September 2023’s wage growth.

This equates to £11,502.40 in total over a year.

This is what the state pays those who reach state pension age after April 6, 2016.

The amount of new state pension you receive depends on your National Insurance (NI) record throughout your adult life. 

If you have made at least 35 years of qualifying NI contributions or NI credits you may qualify for the maximum amount.

You can get NI credits if you’re caring for a relative or raising children instead of working, for example.

How do I claim the state pension?

You won’t automatically get the state pension – you need to claim it once you’re eligible.

You should receive a letter no later than two months before you reach state pension age, explaining what to do.

You can find out more here. 

You can choose to defer getting the state pension – you don’t have to take it as soon as you are eligible when you reach state pension age.

Leaving your state pension untouched can boost the amount you eventually get.

If you opt to defer your state pension, your entitlement increases by the equivalent of 1% for every five weeks you do so.

As the state system can be tricky to navigate, a key part of any pension planning involves requesting a state pension forecast.

This will help you get your head around how much you could be eligible to receive, and from what age. 

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

LOCALS have been left furious and claim their council “let them down” by approving next door’s “skyscraper” extension.

Builder and homeowner Danny Dare is in the process of building what enraged neighbours have called a “monstrosity” on his home in Horwich, near Bolton.

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Despite being shockingly compared to a hotel, Danny’s dormer is only 9.4m wide and will give his two-storey property just one other level.

But the two extra bedrooms it adds for Danny and his family has left residents on the street fuming as they blast it spoils the road’s character.

Walter Gent, 64, who lives in a nearby bungalow, said he objected to the plans due to four criteria: the loss of privacy, it not keeping with the character of the road, over-development and the impact on parking.

He said: “I feel let down by Bolton Council.

“Initially, the plans were turned down by Horwich Council but they then passed into to Bolton, who took a complete different view.

“They approved it because other dormers had been built in the area – but how can they compare it to ones built three streets away.

“I’ve already had to put up a 14ft high hedge in my back garden, but the dormer will mean less privacy because it will overlook my house and bedroom.

“It’ll feel like were living next to a hotel or a skyscraper.”

Danny began building the dormer thinking it was a permitted development.

But he applied for retrospective planning permission soon after because the works would cover a side extension – and it was granted.

He told The Sun: “I’m a builder myself and build dormers all the time.

“I’ve never had any problems until I wanted to build one on my home.

“But at the end of day, the council have approved it. So I don’t see what the problem is.

“I can’t understand what people are complaining about.

“They say it’s a privacy issue and it’ll mean we can see through their windows. But that’s not the case.”

Councillor Ryan Bamforth however, slammed Bolton Council for their lack of “moral fibre”.

He said: “Another concerning aspect was the home-owner’s decision to start building and then seek retrospective planning permission.

“I was extremely upset it was granted.

“If councillors roll over to builders and developers every time there will be constant development because they will know retrospective applications will be approved.

“They should have the moral fibre to stand up for what is right and wrong.”

But other residents are less concerned about the dormer.

One woman said: “I know it’s upset some of my neighbours but I’ve got no objections to it at all.

“I can’t see there’s any loss of privacy because the top windows of the house already overlook our gardens anyway.

“And, as far I’m concerned, the house is some distance away from my home.”

A report by a council planning officer said the dormer extension is acceptable because the distance to other homes is in line with planning policy.

It claims it’s also not ‘out of place’ because there are others nearby.

As the dormer “is not readily visible from surrounding streets” it was considered it would “not harm the street scene”, the report said.

There would be “no undue overlooking, or loss of privacy”, it added.

Although parking wasn’t currently an issue, it noted that additional driveway space for vehicles could be considered.

Bolton Council has been contacted for comment.

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AN EXACT word on your 50p coin could make it worth 700 times more as the rare coin sparks a bidding war on eBay.

The unique coin is said to be a must-have for collectors, selling for a whopping hundreds on the online auction site.

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The rare 50p coin was issued in 2005 and features Samuel Johson’s Dictionary which saw its value skyrocket.

The wording on the back of the coin makes it a unique piece of British decimal coinage.

What adds to this coin’s value is its rarity, making it a sought-after item that collectors are eager to obtain.

The auction on eBay revealed that four bidders attempted to snap up the rare coin which eventually sold for a staggering £350.

The seller received 5-star reviews from buyers who left enthusiastic comments praising the rare coin.

“A+ pristine coin as advertised,” wrote one user.

Another commented: ” Great quality for coin collectors at a great price.”

While a third said: “Beautiful coin.”

It comes after a 50p coin proved to be a “true gem” thanks to its key details.

The loose change rattling around in your pocket could be pieced together to form the Royal Shield of Arms design but it seems many people are unaware of this.

Matthew Dent redesigned the UK’s coins 16 years ago and now those designs are being replaced with the new UK coinage for King Charles III.

It was decided in 2005 that the country’s coinage was due an overhaul and The Royal Mint ran a competition for the public to submit their designs for the new-look coins.

Some 4,000 designs were submitted and The Royal Mint Advisory Committee selected Matthew Dent’s Royal Shield designs as the winner in 2008.

The Royal coat of arms details a shield divided into four quarters representing England, Scotland, Wales and Ireland.

Matthew’s winning design replaced Christopher Ironside’s Britannia depiction originally on the reverse of all 50ps.

Matthew said at the time: “I felt that the solution to The Royal Mint’s brief lay in a united design, united in terms of theme, execution and coverage over the surface of the coins.”

Using all the coins ranging from the 1p to the 50p, they fitted together rather like a jigsaw and formed a complete shield – as could be seen on the £1 coin design issued from 2008 to 2015.

The old round pound was then replaced by the 12-sided Nations of the Crown £1 in 2017 and have now been withdrawn from circulation.

However, the definitive 1p, 2p, 5p, 10p, 20p and 50p shield coins are still in circulation, which means the Royal Shield can still be collected and completed, Change Checker says.

To help you get started you can obtain your own Royal Shield Collector Pack which comes with the Royal Shield 1p, 2p, 5p, 10p and 20p, so all you need to look for is the 50p in your change in order to complete it.

How to sell a rare coin

If, after checking, you realise you’ve come across a rare coin, there are a number of ways you can sell it.

You can sell it on eBay, through Facebook, or in an auction.

But be wary of the risks.

For example, there are a number of scams targeting sellers on Facebook.

Crooks will say they’re planning to buy the item and ask for money upfront for a courier they’ll be sending around.

But it’s all a ruse to get you to send free cash to them – and they never have any intention of picking your item up.

It’s always best to meet in person when buying or selling on Facebook Marketplace.

Ensure it’s a public meeting spot that’s in a well-lit area.

Avoid payment links and log in directly through the payment method’s website.

Most sellers prefer to deal with cash directly when meeting to ensure it’s legitimate.

The safest way to sell a rare coin is more than likely at auction.

You can organise this with The Royal Mint’s Collectors Service. It has a team of experts who can help you authenticate and value your coin.

You can get in touch via email and a member of the valuation team will get back to you.

You will be charged for the service, though – the cost varies depending on the size of your collection.

Meanwhile, you can sell rare coins on eBay.

But take into account that if you manage to sell your item then eBay will charge you 10% of the money you made – this includes postage and packaging.

Always keep proof of postage to protect yourself from dodgy buyers who may claim they never received the item.

Send the parcel by tracked delivery if you can as this way they can’t claim it never arrived.

A MUCH-LOVED bargain shop chain is pulling the shutters down on one of its stores in just a few hours.

The Original Factory Shop confirmed the closure of another location in Kent.

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The discounter, known for its bargain prices, is closing its branch in Deal today, Saturday 28.

TOFS said the site, labelled “brilliant” by shoppers, will be shutting at the end of September.

The retailer thanked local shoppers for their support over the years.

A spokesperson from The Original Factory Shop said: “After the landlord informed us that they were redeveloping our Deal store, we were unable to renew the lease.

“We want to remain in town and our property team would consider any alternative suitable sites. We are working hard to support all of those colleagues that will be affected and seeking to redeploy them across our business.”

The shock closure has left several local customers devastated, although the trader maintains around 190 branches nationwide.

One Facebook user said: “Such a terrible end to such a popular store.

“Obviously, this has not been a business decision as business was good, but another sign of the times.”

A second wrote: “Another piece of history and friendly staff gone.”

A third commented: “I love this shop. I go to Deal, from Dover, regularly the main reason being the factory shop.

“Don’t think I will be shopping at Deal much after it closes.”

Another posted: “Oh no another brilliant shop closing but why? Love that shop.”

While a fifth said: “Such a shame. It was affordable and you could always get something good.

“Now probably destined for townhouses and artisanal deli’s selling £4 sourdough bread.”

“That’s awful news,” another declared.

The closure is down to the building being redeveloped and the chain being unable to renew the lease.

After the Deal store closes, three of The Original Factory Shops will remain in Kent: Tenterden, Biggin Hill and Headcorn.

Other The Original Factory Shop closures

The Deal store closure is not the only one to be announced by The Original Factory Shop this year either.

It has already pulled the shutters down on seven stores in recent months:

• Brightlingsea, Essex
• Bodmin, Cornwall
• Chepstow, Wales
• Fakenham, Norfolk
• Harwich, Essex
• Mildenhall, Suffolk
• Padiham, Lancashire
• Taunton, Somerset

It comes after the retailer, known for selling everything from clothing to homeware and stationery, shut a number of branches last year.

But it’s not all bad news, as it has been opening stores across the UK too, as it shakes up its presence on the high street.

The full list of stores that have opened since August 2023 includes:

• Kirkintilloch – opened August 24
• Stonehaven – opened August 31
• Blandford Forum – opened August 31
• Haddington – opened September 7
• Wetherby – opened September 7
• Nairn – opened September 14
• Ashbourne – opened September 14
• Castle Douglas – opened September 21
• Penrith – opened September 21
• Inverness – opened September 28
• Attleborough – opened September 28
• Ayr – opened October 5
• Ringwood – opened October 5
• Perth – opened October 12
• Lanark – opened October 19
• Peterhead – opened October 26

Retail woes

Other retailers, such as Homebase, Boots, and Clarks, have been reducing the number of their high-street branches.

Rising rents, energy bills, and the cost of living have also caused many retailers to fail.

Several big retailers have fallen into administration in the past year, including Wilko, Paperchase, and most recently, The Body Shop and Ted Baker.

The Body Shop collapsed into administration on February 13, putting its almost 198 branches at risk of closure.

Since then, it has closed down 82 locations.

However, it’s not all bad news for the high street, as several other retailers and hospitality venues have plans to expand.

Beer giant Heineken announced plans to invest £39million to help reopen 62 previously shuttered British pubs.

Aldi has announced that it will open 35 new UK stores.

The openings form part of Aldi‘s long-term target of 1,500 stores in the UK.

The supermarket is set to invest £550million in expanding its UK footprint this year alone.

Aldi said each new store opening will create around 40 new jobs on average.

In recent months, Asda has been opening hundreds of convenience stores as it seeks to rival major players Tesco and Sainsbury’s.

B&M plans to open “not less than” 45 brand new stores across the UK in each of the next two consecutive years.

Purepay Retail Limited, the parent company of Bonmarché, Edinburgh Woollen Mill (EWM), and Peacocks, has said it wants to open 100 new high-street stores over the next 18 months.

It has yet to give the exact locations where it will open the 100 stores or when they will open.

One of the UK’s favourite bakery chains, Greggs, has exclusively revealed to The Sun plans to open more outlet branches by the end of 2025.

Home Bargains, which was running just under 600 branches as of last June, has said it wants to “eventually have between 800 and 1,000 retail outlets open”.

The major discounter has stopped short of saying when it wants to reach the 1,000 store target, however.

Primark is also opening new branches and investing and renovating more than a dozen of its existing shops.

Screwfix is set to open 40 new stores nationwide as its owner, Kingfisher, seeks to expand the DIY brand’s national presence.

The brand opened two new stores in March, and a further three new shops will open this month.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

A “Coupon King” has tracked down the cheapest Quality Street boxes you can find ahead of Christmas – but you’ll need to be quick to get hold of them.

Self-professed “tightwad” Jordon Cox revealed where Brits can pick up the festive favourites at almost half the price they will be by the big day.

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Appearing on ITV’s This Morning, Jordon pointed shoppers in the right direction to take advantage of the cut-price offers.

He said: “We all love a bit of chocolate.

“So the boxes of chocolate – Celebrations, Quality Street, Heroes, Roses – these are the cheapest they’re probably going to be before Christmas.

“They’re down to £3.95 in Tesco.

“If you have the Tesco Clubcard, go into stores.”

The unbelievable prices left show host Alison Hammond stunned, as she exclaimed: “Are you serious?

“I’m going.

“I’m going to get all my Christmas stuff now.”

Alison and everyone else will have to be quick, though, as Jordon revealed that the offer only lasts through this weekend.

Shoppers have to make their way to Tesco before Monday in order to get hold of the discounted treats.

However, Jordon’s glad news also came with a warning as the dreaded “shrinkflation” has struck again.

He explained: “This time last year they were 600g these tins.

“They’re down to 550g.

“It’s the same sort of price but less in them.”

Nonetheless, he said it’s still very much worth the trip to get hold of your chocs, especially with another Christmas staple also on offer.

Terry’s Chocolate Oranges are down from £1.50 to 95p in Tesco until Tuesday, including the newly-revived Toffee Crunch flavour.

A LUCKY couple who scooped up a whopping £83,000 in the People’s Postcode Lottery revealed that they almost ignored the call after they were convinced it was a scam.

Alan and Muriel Owen said they were sceptical about winning the jackpot until their neighbours confirmed that they had indeed won the life-changing sum.

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They were one of 11 winners on a street in Nantymeol, Ogmore Vale, to bag an eye-watering £83,333 each.

Muriel said: “I couldn’t believe it, I thought it was a scam at first, and then I said to [Alan] somebody was playing a sick joke on us.”

Fortunately, the phone call which confirmed their win was real, and now the couple look forward to splashing their newfound wealth.

Alan and Muriel wasted no time and had already booked a trip to Turkey to celebrate.

The lucky pair added that it was “amazing” to share the win with the other residents, describing them as “lovely valleys people”.

Most of the winners in Nantymeol came together to celebrate at the local village pub, with owner Helen Smith describing the news as “fantastic”.

She told the BBC: “It was a lovely atmosphere here, we put on free prosecco for everybody to help them celebrate,” she said.

“It’s nice to see lovely people winning money.”

It comes after a great gran who won £166,666 says her husband will have to write a “begging letter” if he wants to see a single penny of it.

Gill English landed the cash on People’s Postcode Lottery in Rugby, Warwickshire – and is now planning a slap-up carvery dinner for her big family.

The retired carer also said she is prepared to buy her hubby a new pair of shoes – but only once she sees his “begging letter”.

Gill said: “Oh my God! Flippin’ heck! I’ll take the family to a carvery. I also said I’d buy Kev a new pair of shoes.

“He’ll have the begging letter written!”

Retired chauffeur Kev laughed: “I’ve already written the begging letter.”

The couple are both recovering from cancer.

Kev had melanoma and Gill is still receiving treatment after having part of her right lung removed.

But Gill said they are more interested in helping family – including her three sons, eight grandchildren and nine great-grandchildren than treating themselves.

She said: “I love buying presents and love doing things for people. It’s lovely when you feel you have done something for somebody.

“I love giving. I get great joy out of it. If you’ve got money, you’ve got it. If you haven’t, you haven’t.

“I’m not money-motivated, but I am now! This is so lovely. Thank you.”

Gill also revealed she hadn’t told her hubby that she played Postcode Lottery until she got the call to say she’d won.

She said: “Kev didn’t know I even played; I don’t tell him everything. I hadn’t told anyone except my youngest son.

“I’ll never get any sleep now just working it all out.”

Kev said: “It wasn’t a secret, she just never told me.”

How to enter the People’s Postcode Lottery

• The Postcode Lottery is a subscription-based lottery in which players sign up with their postcode.
• Your postcode is your ticket number – 40p a day ensures entry into all drawers, or £12 a month.
• Once subscribed, they are automatically entered into every draw.
• Prizes are announced every day of the month.
• If your postcode gets luck, every player in your postcode wins.
• 33 per cent of the ticket price will go to charity that is re-funnelled back into the community.