Older state pensioners handed £439.40 boost after April change hits bank accounts | Personal Finance | Finance

Older state pensioners across the UK have been handed a cash boost of up to £439.40 extra per year after an April change hits bank accounts.

The start of the new tax year on April 6 ushered in a swathe of uplifts to benefits and pensions, with the State Pension being no exception. The amount that State Pension rates increase each tax year is determined in line with the triple lock, which takes the highest figure out of three factors: the consumer price index (CPI) measure of inflation (measured for September the year before), average wage growth between May and July of the previous year, or 2.5%. This year, the basic and new State Pension have been uprated by 4.8%, in line with average wage growth, and pensioners will see this uplift reflected in May payments.

While the new tax year begins on April 6, some pensioners don’t actually get a full month on the new rates until May, so this is the first month where many will fully benefit from the 4.8% uplift. For example, if your pension was paid between April 1 and April 6, you won’t have received the new higher rate, but every pension payment in May will be paid at the new amounts.

But the amount extra pensioners will receive in their bank account following the uplift depends on which State Pension you get, as the basic and new State Pensions are paid at different rates.

1. Basic State Pension – up to £439.40 extra

You will get the basic State Pension if you’re a man born before April 6, 1951, or a woman born before April 6, 1953. As of April 6, the full basic State Pension is now worth £184.90 per week, up from £176.45, giving pensioners a weekly payment boost of up to £8.45.

Over a full year this amounts to a maximum of £9,614.80 in pension payments, up from £9.175.40 previously, meaning pensioners eligible for the full amount will get a maximum of £439.40 extra over the 2026/27 tax year.

Of course, you need to have a certain number of qualifying years of National Insurance to get this full amount, which for a man is usually 30 qualifying years if you were born between 1945 and 1951, or 44 qualifying years if you were born before 1945.

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 in the 2026/27 tax year.

2. New State Pension – up to £574.60 extra

You will get the new State Pension if you’re a man born on or after April 6, 1951, or a woman born on or after April 6, 1953, and as of April 6, claimants will benefit from a 4.8% uplift to payments.

Following the April increase, the full new State Pension is now worth £241.30 per week, up from £230.25, giving pensioners up to £11.05 extra each week.

Over a full year this amounts to a maximum of £12,547.60 in pension payments, up from £11,973 previously, meaning those who qualify for the full rate will get a maximum of £574.60 extra over the 2026/27 tax year.

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.

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.

Commenting on the April increase, Work and Pensions Secretary Pat McFadden said: “I know global shocks, and the effects they have on our living costs, will be increasing anxiety for many households.

“This government will always protect our pensioners, and that’s why we are raising the full rate of new State Pension by up to £575 this coming year.”