{"id":45774,"date":"2025-09-29T23:17:12","date_gmt":"2025-09-29T23:17:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/45774\/"},"modified":"2025-09-29T23:17:12","modified_gmt":"2025-09-29T23:17:12","slug":"state-pensioners-set-to-get-562-bonus","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/45774\/","title":{"rendered":"State pensioners set to get \u00a3562 bonus"},"content":{"rendered":"

State pensioners across the UK are set to receive a significant boost next year. The state pension rate for 2026\/27 has been confirmed under the terms of the triple lock, resulting in a 4.7% increase. This will push the annual rate up to \u00a312,535 for those on the new state pension<\/a> – an uplift of \u00a3562.<\/p>\n

The increase in payments will take effect from April next year, reports Birmingham Live<\/a>. The triple lock guarantees that the pension<\/a> increases annually in line with the highest of inflation, wage growth or 2.5%.<\/p>\n

With wages having risen by 4.7%, this figure will determine the latest increase.<\/p>\n

However, this could result in more older people paying income tax for the first time due to frozen tax bands.<\/p>\n

There have also been suggestions that the triple lock could become unsustainable as it significantly boosts pension<\/a> payments.<\/p>\n

Pension experts at Spencer Churchill Claims Advice said: “From April 2026, the state pension will rise by 4.7%, taking the full new state pension to about \u00a3241 a week, or just over \u00a312,500 a year.<\/p>\n

“That’s a meaningful increase, especially for those relying heavily on it to cover everyday expenses.”<\/p>\n

However, they warned: “The rise also brings the state pension close to the frozen personal tax allowance, meaning more retirees could end up paying income tax on their pension alone.<\/p>\n

“Pension rises look good on paper, but frozen personal allowances mean retirees don’t always feel the full benefit.<\/p>\n

“This is called fiscal drag \u2013 where an increase in pension income simply pushes people into tax thresholds.<\/p>\n

“Many pensioners who only rely on the state pension will soon find themselves paying tax for the first time, while those with workplace or private pensions are already there.”<\/p>\n

They further stated: “The Government has pledged to maintain the triple lock until the end of this Parliament, but beyond that, nothing is guaranteed.”<\/p>\n

Sign up to our breaking news newsletter here<\/a>.<\/p>\n

Join the Liverpool ECHO Breaking News and Top Stories WhatsApp community to receive the latest news straight to your phone by clicking here<\/a>.<\/p>\n

Don’t miss the biggest and breaking stories by signing up to the Echo Daily newsletter here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"State pensioners across the UK are set to receive a significant boost next year. The state pension rate…\n","protected":false},"author":2,"featured_media":45775,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,268,85,46,12316,266,267,1003,16247],"class_list":{"0":"post-45774","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-il","11":"tag-israel","12":"tag-pensioners","13":"tag-personal-finance","14":"tag-personalfinance","15":"tag-state-pension","16":"tag-triple-lock"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/45774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=45774"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/45774\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/45775"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=45774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=45774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=45774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}