The triple lock means that state pensioners will get an extra £575 per year, thanks to the Triple Lock. The State Pension increases by 4.8% from April 2026, in line with average wages in the UK. This protects the spending power of retirees and ensures that their payments keep up with other increases. Your state pension entitlements are based on your National Insurance payments throughout your working life.
Those with a full National Insurance record who are entitled to the full New State Pension will get £241.30 per week, or £12,547.60 annually. This applies to those who reached State Pension age on or after April 6, 2016. You will get the new state pension if you are a man born on or after 6 April 1951 or a woman born on or after 6 April 1953. To be entitled, those who’ve reached state pension age need 35 qualifying years of National Insurance contributions to get the full new State Pension.
The changes mark an increase of £575 per year, which works out at approximately £47 extra per week. On a weekly basis, this is an increase to £241.30 a week from the previous £230.25.
This time, it was average earnings that determined the increase. The basic state pension will also increase, going up to £184.90 a week, compared to £176.45 a week for the 2025/26 tax year.
This applies to those who reached state pension age before April 6, 2016. In other words, those who receive the basic state pension are men who were born before 6 April 1951 or women born before 6 April 1953.
Recipients would owe 20% of every £1 that exceeds the threshold. With the upcoming increase, which sees the full new State Pension increase to £12,547.60 (up from £11,973), the annual earnings of a state pensioner are brought perilously close to the frozen Personal Allowance threshold at £12,570.
However, Chancellor Rachel Reeves has confirmed pensioners with no other income won’t have to pay tax on their State Pension alone if the triple lock takes the State Pension above the £12,570 threshold. But this won’t apply to those who receive another form of income.
“Those still working part-time may wish to consider additional private pension contributions, while anyone approaching retirement should consider reviewing how ISAs, workplace pensions and diversified investments can help build a more resilient income stream,” said Derence Lee, Chief Finance Officer at Shepherds Friendly.
