British pensioners to get 300 pounds hike

London, April 9 (IANS) Millions of pensioners in Britain will get an annual hike of over 300 pounds (about $500) from Monday.

In the wake of the "granny tax" row, Prime Minister David Cameron has said the increase showed the government's commitment to elderly people, the Daily Express reported.

Average payments will rise to 124 pounds a week for single people while couples will now receive 172 pounds.

"I know these are difficult times but my promise to pensioners is that we are on your side." said Cameron. The basic state pension rises by 5.30 pounds a week to about 107 pounds. For couples, the increase is 8.50 pounds a week while pension credit for those with modest savings increases by about five pounds.