Details on pension rates are expected to be released during September
Pensions will be rising again next year.
Millions of pensioners are set to find out this month about a boost to payments which could be worth as much as £550.
Weekly rates for 2026/27 are due to be confirmed during September.
The state pension increases each year, with the exact rate determined by the triple lock.
READ MORE: Key dates pensioners getting £450 autumn cost of living payments
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Under this policy, pension payments rise every year to match whatever is highest out of inflation, wages or 2.5%.
It has been reported the annual increase to payments could be as high as £550 from April 2026.
This figure comes after the Consumer Price Index figures for April to June showed a 4.6% increase in wages.
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If that wage growth has held firm through the summer, it will result in a significant pension spike.
The Government’s official forecast had predicted a lower 2.5% figure, which would amount to an extra £299 a year.
It comes amid growing speculation over the future of the triple lock, which leading economists have labelled unsustainable.
Labour says it is committed to the policy for the duration of this Parliament, up to 2029, but it’s less clear what might happen after that.
Meanwhile, millions of pensioners will also get financial support over the next few months in the form of the Warm Home Discount and Winter Fuel Payments.
The Warm Home Discount will launch again in October and most eligible households should receive cut to energy bills by the end of January.
Winter Fuel Payments, worth up to £300, will go to all pensioners with incomes below £35,000.
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