The state pension rate for 2026/27 has been confirmed under the terms of the triple lock
17:24, 29 Sep 2025Updated 18:17, 29 Sep 2025
Pensioners are set to get a £562 boost next year
State pensioners across the UK are set to receive a significant boost next year. The state pension rate for 2026/27 has been confirmed under the terms of the triple lock, resulting in a 4.7% increase. This will push the annual rate up to £12,535 for those on the new state pension – an uplift of £562.
The increase in payments will take effect from April next year, reports Birmingham Live. The triple lock guarantees that the pension increases annually in line with the highest of inflation, wage growth or 2.5%.
With wages having risen by 4.7%, this figure will determine the latest increase.
However, this could result in more older people paying income tax for the first time due to frozen tax bands.
There have also been suggestions that the triple lock could become unsustainable as it significantly boosts pension payments.
Pension experts at Spencer Churchill Claims Advice said: “From April 2026, the state pension will rise by 4.7%, taking the full new state pension to about £241 a week, or just over £12,500 a year.
“That’s a meaningful increase, especially for those relying heavily on it to cover everyday expenses.”
However, they warned: “The rise also brings the state pension close to the frozen personal tax allowance, meaning more retirees could end up paying income tax on their pension alone.
“Pension rises look good on paper, but frozen personal allowances mean retirees don’t always feel the full benefit.
“This is called fiscal drag – where an increase in pension income simply pushes people into tax thresholds.
“Many pensioners who only rely on the state pension will soon find themselves paying tax for the first time, while those with workplace or private pensions are already there.”
They further stated: “The Government has pledged to maintain the triple lock until the end of this Parliament, but beyond that, nothing is guaranteed.”
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