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<\/p>\nMillions of pensioners across the United Kingdom will receive higher weekly payments from April 6 after the Department for Work and Pensions confirmed a 4.8 per cent increase to the state pension. <\/p>\n
The uplift will apply to both the new state pension and the basic state pension due to the implementation of the triple lock. <\/p>\n
Under the changes, the new state pension will rise to \u00a3241.30 per week, up from the current rate of \u00a3230.25.<\/p>\n
The new state pension applies to individuals who reached state pension age on or after April 6, 2016.<\/p>\n
Those receiving the basic state pension under the previous system will see their weekly payments increase to \u00a3184.90, up from \u00a3176.45.<\/p>\n
The rise will take effect from the start of the 2026\/27 tax year.<\/p>\n
Recipients of Pension Credit will also benefit from the uprating, with payment levels increasing in line with the revised pension rates.<\/p>\n
The annual increase follows the triple lock mechanism, which guarantees that the state pension rises each year by the highest of three measures.<\/p>\n
These measures are the Consumer Prices Index inflation rate recorded in September of the previous year, average earnings growth measured between May and July, or a minimum increase of 2.5 per cent.<\/p>\n
For the 2026\/27 financial year, the Average Weekly Earnings index recorded growth of 4.8 per cent during the May to July 2025 period.<\/p>\n
That figure exceeded the September 2025 CPI inflation rate of 3.8 per cent, meaning earnings growth determined the size of the increase.<\/p>\n
Pensioners are set to receive higher weekly payments under Triple Lock<\/p>\n
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Pensions Secretary Pat McFadden is legally required to carry out an annual review of benefit and pension rates.<\/p>\n
The review assesses whether payment levels remain appropriate when measured against changes in earnings and prices.<\/p>\n
The triple lock was introduced in 2010 by the coalition Government of Conservatives and Liberal Democrats.<\/p>\n
Its purpose is to prevent the value of the state pension from falling behind either the cost of living or the incomes of people still in work.<\/p>\n
Pensioners who receive additional state pension payments, previously known as SERPS or the State Second Pension, will see that element uprated by CPI inflation rather than earnings growth.<\/p>\n
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The Chancellor confirms pension and benefit rates at the Autumn Budget ahead of the following tax year.<\/p>\n
Steve Webb, former Pensions Minister and partner at pension consultants LCP, said the annual uprating plays an important role in protecting incomes.<\/p>\n
Mr Webb said: “With households continuing to face a high cost of living and further increases in bills such as Council Tax, these annual upratings are vital to make sure that pensioner living standards are protected against inflation.”<\/p>\n
The state pension forms the main source of income for many retired households.<\/p>\n
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Are you affected by state pension age changes?<\/p>\n
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GETTY<\/p>\n
Changes to payment levels are closely watched by pensioners and financial advisers, particularly during periods of economic volatility.<\/p>\n
The 4.8 per cent increase reflects wage growth recorded across the wider economy during the measurement period.<\/p>\n
The Government has previously stated that it remains committed to maintaining the triple lock for the duration of the current Parliament.<\/p>\n
Full details of the revised payment rates will be published by the DWP ahead of the April implementation date.<\/p>\n","protected":false},"excerpt":{"rendered":"Millions of pensioners across the United Kingdom will receive higher weekly payments from April 6 after the Department…\n","protected":false},"author":2,"featured_media":351892,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,2215,4176,2222,50,4178,4174,4175,2331,2221,56,54,55],"class_list":{"0":"post-351891","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-dwp","10":"tag-finance","11":"tag-money","12":"tag-news","13":"tag-pensions","14":"tag-personal-finance","15":"tag-personalfinance","16":"tag-sgg","17":"tag-state-pension","18":"tag-uk","19":"tag-united-kingdom","20":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/351891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=351891"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/351891\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/351892"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=351891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=351891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=351891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}