The basic State Pension went up by 4.8% on April 6 (Image: Getty)
Older state pensioners across the UK can get a full £184 per week payment from May following a triple lock change.
State Pension rates increase at the start of every new tax year on April 6 in line with the triple lock, with this year’s increase set at 4.8%. The triple lock determines the annual rise of State Pension rates based on whichever is the highest out of three factors – 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 rose by this amount on April 6.
The increase means the full basic State Pension is now worth £184.90 per week, up from £176.45, giving pensioners a weekly payment increase of £8.45.
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Over a full year, this amounts to a maximum of £9,614.80 in pension payments, up from £9,175.40 previously, meaning older pensioners who are eligible for the full rate now get an extra £439.40 annually.
But because the new tax year begins on April 6, some pensioners don’t actually get a full month on the new rates until May. As such, May is the first month of the year where many state pensioners will fully benefit from the 4.8% upflift.
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 at the new amounts, meaning eligible basic State Pension claimants will get the full £184.90 per week from this month.
You get the basic State Pension if you’re a man born before April 6, 1951, or a woman born before April 6, 1953, but whether you get the full £184.90 weekly amount depends on your National Insurance record.
To get the maximum payment, 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 in the 2026/27 tax year.
As for new State Pension claimants, the weekly rate increased from £230.25 to £241.30 on April 6, giving pensioners a weekly payment increase of £11.05, or up to £574.60 extra per year if you get the full amount.
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 4.8% increase on April 6, 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.”