The triple lock guarantees the state pension goes up by whichever is higher out of inflation (using the previous September inflation figure), wages (average growth between May and July) or 2.5%
The state pension looks set to rise by 4.7% next April in a boost for millions of older Brits.
The state pension rises every April in line with the triple lock promise. The triple lock guarantees the state pension goes up by whichever is higher out of inflation (using the previous September inflation figure), wages (average growth between May and July) or 2.5%.
The figure for average wage growth has today been confirmed as 4.7% by the Office for National Statistics. As inflation is forecast to stay below this level for the rest of the year, it now looks likely that the state pension will rise by the rate of wage growth.
Analysts at AJ Bell have revealed that this means the full new state pension should increase from £230.25 a week (£11,973 a year) to £241.05 a week (£12,534.60 per year) in April 2026. This marks a yearly increase of more than £560.
The old basic state pension should increase from £176.45 a week (£9,175.40 a year) to £184.75 a week (£9,607 a year). These are the full amounts of state pension that you can get. You may receive less than these amounts depending on your National Insurance record.
You get the new state pension if you’re a man born on or after April 6, 1951, or if you’re a woman born on or after April 6, 1953. For the new state pension, most people need 35 qualifying years on their National Insurance record to get the full amount.
You claim the older basic state pension if you’re a man born before April 6, 1951, or a woman born before April 6, 1953. The number of qualifying years you need for the full amount varies depending on when you were born and your gender.
For example, men born before April 6, 1945 need 44 years of National Insurance contributions, while men born between 1945 and 1951 need 30 years.
The state pension age is currently set at 66 for men and women but will gradually increase to age 67 between 2026 and 2028, followed by another rise to 68 in the mid-2040s.
Rachel Vahey, head of public policy at AJ Bell, said: “Provided inflation doesn’t spike above 4.7% in September, all stars point to these latest earnings figures boosting the new state pension to £12,534.60 from April 2026 – putting it above £12,000 for the first time ever and perilously close to the frozen personal allowance.
“This poses a significant conundrum for Rachel Reeves and the Treasury. If, as is likely, the triple lock sees the state pension increase above the personal allowance of £12,570 in April 2027 for the first time, then the government will come under increasing pressure to make a decision regarding either the personal allowance or whether it can sustain the triple lock as it has promised at least to the end of this Parliament.
“Removing the freeze on the personal allowance would come at significant cost to the Treasury at a time when the chancellor’s fiscal headroom is already strained at best, while an overhaul of the triple lock would come with huge political risk before the next general election.
“Needless to say, it’s a headache Starmer and Reeves could do without ahead of a crucial Budget in November and economic and political pressure already beginning to swell both within the Labour Party and outside of it.”
