A potential State Pension boost is on the way next year, with pensioners due a pay rise under the Triple Lock policy. The Triple Lock is a UK Government policy that determines how the state pension increases each year. It’s designed to ensure that pensioners’ incomes keep up with the cost of living or improve over time.

The expected new state pension payment rates from April 2026 have been revealed. Data from the Office for National Statistics (ONS) has shown an upward revision to total wage growth, including bonuses, for May to July, increasing from 4.7% to 4.8%, according to Chronicle Live.

Under the Triple Lock, the New and Basic State Pensions increase each year in line with whichever is the highest between the average annual earnings growth from May to July (4.8%), Consumer Price Index (CPI) inflation rate in the year to September, or 2.5%.

An increase of 4.8% would see those on the full New State Pension receive £241.30 per week, while those on the maximum Basic State Pension would receive £184.90 per week.

Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said: “This has consequences for people getting state pension who can expect the amount they get to go up ever so slightly from next April.

“Those on the full New State Pension could be on course for £241.30 per week rather than £241.05, while those on the full Basic State Pension will see their weekly payment rise to £184.90 rather than £184.75.

“Of course, we are still waiting for the final piece of the Triple Lock puzzle to click into place, with inflation figures published next week also used.

“However, with inflation currently hovering at 3.8% the likelihood is that average wages will be the figure used, and this should be confirmed in the forthcoming Budget.”

To receive the full New State Pension, you need around 35 years’ worth of National Insurance contributions.

If September’s inflation figure matches the Bank of England’s projection of 4%, the State Pension would increase by around £574 from April 2026 – lifting it to £12,547 per year.

The projected uprating leaves just £36 before the Personal Allowance income threshold of £12,570 is exceeded, which would result in more pensioners paying tax in retirement. The Personal Allowance will remain frozen at £12,570 until April 2028.

Rachel Reeves will confirm the annual uprating at the autumn Budget on November 26. An uprating of 4.8% on the current State Pension would result in the following amounts being received.

Full list:

Full New State Pension

Weekly: £241.30 (from £230.25)

Four-weekly pay period: £965.20

Annual amount: £12,547

Full Basic State Pension

Weekly: £184.90 (from £176.45)

Four-weekly pay period: £739.60

Annual amount: £9,614