Older state pensioners across the UK will benefit from a weekly payment boost from the Department for Work and Pensions (DWP) in 2026 thanks to the triple lock.

Chancellor Rachel Reeves confirmed in the Autumn Budget that the Government is committed to the pension triple lock for the duration of this Parliament, which means some pensioners are set to be hundreds of pounds better off once the new rates take effect from April. The triple lock is used to determine how much the State Pension rises at the start of each new tax year, with the April rates based on whichever of the three factors is the highest. These are 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%. Under the triple lock guarantee, pensioners will receive a 4.8% boost to their State Pension in 2026, with the rates due to rise from April in line with average wage growth – as this was the highest figure out of the three factors.

Currently, the full basic State Pension is worth £176.45 per week, but with a 4.8% increase in April, the weekly rate will rise to £184.90. This will give older pensioners receiving the full basic State Pension a weekly payment increase of £8.45 from April 2026.

Over a full year, this amounts to a total of £9,614.80 in pension payments (up from £ 9,175.40), providing older pensioners on the full rate with an additional £439.40 annually.

As for pensioners getting the full new State Pension, the weekly rate will rise from £230.25 to £241.30 in 2026, giving pensioners an extra £11.05 per week from April.

Over a full year this amounts to a total of £12,547.60 in pension payments (up from (£11,973), giving pensioners on the full rate an extra £574.60 annually.

Announcing the 4.8% increase to State Pension rates in her autumn Budget speech, Ms Reeves said: “I am increasing the basic and new State Pension by 4.8%, an increase of £440 per year for the basic State Pension and an increase of £575 per year for the new State Pension in line with our commitment to the triple lock.”

The boost to both the basic and new State Pension is higher than initially expected, following a revision to a key figure used in the triple lock calculation.

Office for National Statistics (ONS) data released on October 14 showed an upward revision to total wage growth, including bonuses, for the quarter to July, up to 4.8%, from 4.7% in a previous estimate. Meanwhile, CPI inflation for September was 3.8%, remaining at the same level as both July and August.