New state pensioners under 77 could see their annual DWP payments rise to £13,062.05 from April, following a forecast 4.1% triple lock increase. The boost would add £514.45 per year to the current full new state pension of £12,547.60, taking weekly payments from £241.30 to about £251.20.
Triple lock commitment and tax exemption
New Prime Minister Andy Burnham has committed to the triple lock, a Labour manifesto pledge, and has also promised to keep Rachel Reeves' tax exemption scheme for state pensioners. This means those with no other income will not pay tax if their DWP payments exceed the £12,570 Personal Allowance.
The triple lock system, enshrined in law, requires the DWP to increase state pension payments each year by the highest of inflation, wage growth, or 2.5%. Consumer Price Index figures for April to June 2026 indicate a 4.1% increase, though final figures will be based on May to July data released in September.
Who qualifies for the new state pension
The new state pension, introduced in 2016, applies to all men born after April 5, 1951, and women born after April 5, 1953. Those with a full National Insurance record receive the full amount. Older pensioners on the basic state pension would see a smaller increase, from £184.90 per week to around £192.50, but may also access now-defunct schemes like the Second State Pension or SERPs.
Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said: "Average wage growth plus bonuses stood at 4.1 per cent between April-June. This could prove to be an interesting figure for state pensioners as next month's data is a key part of the formula for the state pension triple lock."
Retirement planning advice
Ms Morrissey noted that even these increases may not be enough in retirement, urging pensioners to boost workplace pensions. She said: "While an inflation-busting increase will be good news for pensioners, the fact remains that the state pension on its own does little more than cover the essentials. If you want more from your retirement, then you need to make the most of your workplace and personal pensions."
She recommended using online calculators from pension providers to model contributions and taking advantage of employer match schemes, where businesses contribute more if employees do.
