Millions of pensioners across Great Britain are now receiving higher State Pension payments due to the annual uprating. The 2026 payment rates for the New and Basic State Pension will remain in place until April 2027.
New State Pension and Basic State Pension Rates
Individuals retiring this year will receive the New State Pension, which is worth up to £241.30 per week. Those who retired before April 2016 receive the Basic State Pension, worth up to £184.90 weekly. The Department for Work and Pensions (DWP) issues payments weekly, fortnightly, or every four weeks, depending on the payment cycle agreed upon when the benefit is claimed.
Triple Lock Mechanism
Under the Triple Lock, the New and Basic State Pensions increase each year in line with the highest of: average annual earnings growth from May to July, the Consumer Prices Index (CPI) inflation rate for the year to September, or 2.5%. Additional State Pension elements and deferred State Pensions rise annually with the September CPI figure.
Tax Implications
The full New State Pension has increased by approximately £574 to £12,547 for the 2026/27 financial year. This leaves just £36 before the Personal Allowance income threshold of £12,570 is exceeded, which could mean more pensioners with additional income pay tax in retirement. The UK Government recently confirmed that HM Revenue and Customs (HMRC) will implement new measures to ensure pensioners whose sole income is the State Pension will not need to complete a Simple Self Assessment tax return if their payment exceeds the Personal Allowance threshold. The Personal Allowance remains frozen at £12,570 until April 2031.
State Pension Payment Rates 2026/27
New State Pension (Full)
- Weekly: £241.30
- Four-weekly: £965.20
- Annual: £12,547
Basic State Pension (Full)
- Weekly: £184.90
- Four-weekly: £739.60
- Annual: £9,614
Other State Pension Rates
- Category B (lower) Basic State Pension (based on spouse or civil partner's insurance): £110.75
- Category C or D (non-contributory): £110.75
Full details on Additional State Pension, Widows Pension, increments, and Invalidity Allowance can be found on GOV.UK.
State Pension and Tax
Guidance on GOV.UK states: “You pay tax if your total annual income adds up to more than your Personal Allowance. Your total income could include: the State Pension (Basic or New), Additional State Pension, a private pension (workplace or personal), earnings from employment or self-employment, any taxable benefits, and other income such as from investments, property, or savings.”
Check if You Have to Pay Tax on Your Pension
Before checking, you need to know: if you have a State Pension or private pension, how much State Pension and private pension income you will receive this tax year (April 6 to April 5), and the amount of any other taxable income. You cannot use the online tool if you receive any foreign income, Marriage Allowance, or Blind Person’s Allowance. Use the online tool at GOV.UK to check if you have to pay tax on your pension.
