More than 13 million State Pension recipients are set to receive a 3.9% increase in their payments from April 2027, after earnings growth outstripped inflation.
Under the Triple Lock, the rise would take the full New State Pension to around £250.70 a week, or £13,036 a year—nearly £490 more over the year—pushing it beyond £13,000 annually for the first time. The full Basic State Pension will also climb from £184.90 to roughly £192.10 a week.
How the Triple Lock works
The Triple Lock ensures the New and Basic State Pensions rise each April in line with whichever is the highest of average annual earnings growth from May to July (3.9%), CPI inflation in the year to September (3.5%), or 2.5 per cent.
Labour has pledged to maintain the Triple Lock for the duration of this Parliament, with the rates expected to be officially confirmed by Chancellor John Healey at the Autumn Budget on October 28.
What it means for pensioners
Payments vary according to an individual's National Insurance contribution records, so not everyone will receive the full amount. The exact weekly payment amounts from April 2027 will depend on personal contribution histories.
