Millions of pensioners across the United Kingdom are set to receive a significant increase in their income from next April, following the government's confirmation that the State Pension Triple Lock will be honoured.
Triple Lock Secures 4.8% Pension Uplift
Chancellor Rachel Reeves used November's Autumn Budget to reaffirm the government's commitment to the Triple Lock policy. This mechanism guarantees that the State Pension rises by the highest of three figures: September's Consumer Price Index (CPI) inflation rate, average earnings growth from May to July, or 2.5%.
For the 2026/27 financial year, average earnings growth of 4.8% was the highest measure. This means all state pension payments will increase by this percentage from 6 April 2026.
HM Treasury stated: "Thanks to our commitment to the pension Triple Lock for this parliament, pensioners on the full new State Pension across the UK are set to receive an extra £575 a year, which they'll start seeing from April 2026."
How Much More Will You Get?
The exact amount of the increase depends on which State Pension scheme you are part of, determined by your date of birth.
1. Basic State Pension Increase
This applies to men born before 6 April 1951 and women born before 6 April 1953. Their weekly basic State Pension will rise from £176.45 to £184.90.
This represents an extra £8.45 per week, or roughly £439.40 more over the course of a year. Annual payments will increase from £9,175.40 to £9,614.80 for those receiving the full amount.
It is crucial to note that receiving the full rate requires a specific number of qualifying National Insurance years. The required years vary based on your gender and exact year of birth.
2. New State Pension Increase
This scheme is for men born on or after 6 April 1951 and women born on or after 6 April 1953. The full new State Pension will increase from £230.25 to £241.30 per week.
This 4.8% rise provides an additional £11.05 each week. Over a full year, it adds up to a substantial £574.60 extra, raising the annual total from £11,973 to £12,547.60.
3. Pension Credit Also Rising
The income top-up benefit for pensioners on a low income, Pension Credit, will also see its standard minimum guarantee increase by 4.8%.
From April 2026, the weekly rate for single claimants will rise to approximately £238 (up from £227.10). For couples, the joint weekly rate will increase to around £363.23 (up from £346.60).
This means:
- Single pensioners will gain about £10.90 per week, or an estimated £566.80 annually.
- Couples will receive around £16.63 more each week, boosting their yearly income by approximately £895.96.
What This Means for Pensioners
The confirmed Triple Lock ensures that pensioner incomes keep pace with rising living costs, specifically matching wage growth this year. The automatic increase will be applied, so recipients do not need to take any action to receive the higher payments starting in April 2026.
This announcement provides financial certainty for millions, offering a clear picture of their income for the coming financial year. The additional funds will be a welcome boost to household budgets amid ongoing economic pressures.
