The full new State Pension is now worth £241.30 per week (Image: Getty)
Millions of state pensioners will be given a full £47.88 extra monthly cash boost in May following a triple lock change.
The boost comes following a 4.8% uplift to State Pension rates on April 6, in line with the triple lock, with pensioners due to benefit from the increase in full this month. As 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 of the year where many state pensioners will fully benefit from the 4.8% boost to payments. 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.
Following the 4.8% uplift, the full new State Pension is now worth £241.30 per week, up from £230.25, and as the State Pension is paid every four weeks, pensioners will get up to £1,045.63 per month on average across the year if they get the full amount.
This is up from £997.75 per month on average under the old rates, meaning pensioners now benefit from a monthly cash increase of around £47.88 extra.
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Of course, these 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 than £47.88 extra every four weeks.
According to the Department for Work and Pensions (DWP), the 4.8% uplift will give claimants a maximum of £12,547.60 in State Pension payments over a full year, up from £11,973 previously, which amounts to an annual cash boost of £574.60.
Commenting on the 4.8% uplift from April 6, 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.”
According to UK Parliament, there were an estimated 13.2 million state pensioners in Great Britain in 2025/26 and around two thirds (8.2 million pensioners) were claiming the pre-2016 State Pension, while 5.0 million were new State Pension claimants.
As such, five million state pensioners will now receive payments of up to £241.30 per week under the new 2026/27 rates. You can claim the new State Pension when you reach State Pension age if you’re a man born on or after April 6, 1951, or a woman born on or after April 6, 1953.
If you were born before, these rules don’t apply, and you’ll get the basic State Pension instead, which is now worth £184.90 per week.
The increases to both the basic and new State Pension come alongside a 4.8% boost to Pension Credit, which is now worth an average of £4,300 per year and unlocks access to further support, such as housing costs, Council Tax and free TV licences.
The 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.
Minister for Pensions Torsten Bell added: “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.”