Starting April 2026, State Pension payments are set to increase by 4.8%, aligning with average wage growth. This announcement came as part of Chancellor Rachel Reeves’ Autumn Budget statement delivered on November 26.
The rise reflects the government’s ongoing commitment to the triple lock policy, which guarantees that State Pensions increase annually by the highest of three measures: the Consumer Price Index (CPI) inflation rate, average wage growth, or a minimum of 2.5%.
For the upcoming year, average wage growth between May and July 2025 was recorded at 4.8%, surpassing both CPI inflation and the 2.5% minimum, which means pension payments will be adjusted accordingly.
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HM Treasury highlighted the impact of this increase, stating: “Thanks to our commitment to the pension triple lock for this parliament, pensioners on the full new State Pension across the UK are set to receive an extra £575 a year, starting April 2026.”
This adjustment will raise the full new State Pension to £241.30 per week, up from the current £230.25. Annually, that totals a maximum of £12,547.60.
For older pensioners receiving the full basic State Pension, payments will increase to £184.90 per week, or £9,614.80 annually.
In her budget announcement, Chancellor Reeves emphasized the government’s priorities: “Whether it’s our commitment to the triple lock or rebuilding our NHS to cut waiting lists, we’re supporting pensioners to give them the security in retirement they deserve. At the Budget this week, I will set out how we will take the fair choices to deliver on the country’s priorities to cut NHS waiting lists, reduce national debt, and lower the cost of living.”