State Pension rates will rise by 4.8% from April 6 (Image: Getty)
Older state pensioners are being given a cash boost of £8.45 extra per week following a triple lock change today, April 6. The State Pension goes up at the start of each new tax year on April 6 in line with the triple lock, which determines exactly how much payment rates increase based on whichever is the highest out of three factors. These are the consumer price index (CPI) measure of inflation (measured for September in the previous year), average wage growth between May and July of the previous year, or 2.5%. As average wage growth was the highest out of these three factors at 4.8%, State Pension rates are rising by this amount from today, April 6.
The Department for Work and Pensions (DWP) said the government’s commitment to the triple lock means pensioners’ incomes will rise by up to £2,100 over this Parliament, and this year’s uprating will help millions across the UK facing cost of living pressures. But as the UK’s State Pension system is split into two schemes – basic and new – the amount that pension payments will increase from April 6, 2026, depends on when you retired.
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Men born before April 6, 1951, and women born before April 6, 1953, receive the basic State Pension and today will see their pension payments increase by 4.8%, taking the full basic State Pension up from £176.45 per week to £184.90. This amounts to a weekly cash boost of £8.45 for those on the full rate.
Over a full year, pensioners can get a maximum of £9,614.80 in pension payments (up from £9.175.40 previously), giving those on the full rate an extra £439.40 annually.
But of course whether you get the maximum amount from April 6 depends on your National Insurance record. To get the full £184.90 per week, a man born between 1945 and 1951 usually requires 30 qualifying National Insurance years, while men born before 1945 require 44 qualifying years.
For women, you’ll need 30 qualifying years if you were born between 1950 and 1953, or 39 qualifying years if you were born before 1950. If you have less than the full number of qualifying National Insurance years then your basic State Pension will be less than £184.90 per week from April 6.
As for those getting the new State Pension, the weekly rate is rising from £230.25 to £241.30 from today, giving pensioners a weekly increase of £11.05, or an extra £575 annually if you get the full rate.
The figures are based on the maximum possible amount for those with a full qualifying National Insurance record, so those without enough qualifying years will receive less.
Pension Credit is also rising by 4.8% today and is worth an average of £4,300 a year. This benefit also unlocks further support including help with housing costs, council tax and free TV licenses.
These pension increases come into effect alongside a 3.8% increase to most inflation-linked benefits and tax credits, an increase to the National Living Wage, and frozen rail fares and prescription charges.
Minister for Pensions Torsten Bell said: “After a lifetime of work and contribution, people deserve a decent retirement. Raising the State Pensions faster than prices, ensuring it is a pension they can rely on, is how we make that a reality for millions.”