Older state pensioners across the UK are set to receive up to £739.60 from the Department for Work and Pensions (DWP) in October, thanks to a triple lock change earlier this year. The basic State Pension is currently worth up to £184.90 per week in the 2026 to 2027 tax year.
How the Triple Lock Increase Works
The State Pension goes up at the start of each new tax year, with the new rates determined by the triple lock - a UK Government guarantee that the State Pension will go up every April by whichever is the highest out of three measures. These are the consumer price index (CPI) measure of inflation (measured for September of the previous year), average wage growth between May and July of the previous year, or 2.5%.
In the 2026 to 2027 tax year, both the basic and new State Pensions were uprated by 4.8% in line with average wage growth, the highest out of three metrics. The DWP confirmed this triple lock boost will give older pensioners on the basic State Pension approximately £439.40 extra per year, based on a full National Insurance record.
Payment Schedule and Eligibility
The new rates came into effect on April 6, and pensioners will continue to reap the benefits of these higher State Pension payments in October - and every month that follows until next April. As the State Pension is paid every four weeks, those eligible for the full amount can receive up to £739.60 from the DWP in each four-week payment period.
Over a full year, the 4.8% increase amounts to a maximum of £9,614.80 in basic State Pension payments, up from £9,175.40 previously, giving those eligible for the full rate an extra £439.40 annually.
Of course, you need a certain number of qualifying years of National Insurance to get this, which, for a man, is usually 30 qualifying years if you were born between 1945 and 1951, or 44 qualifying years if you were born before 1945. For women, you’ll need 30 qualifying years if you were born between 1950 and 1953, or 39 qualifying years if you were born before 1950. If you have less than the full number of qualifying National Insurance years, then your basic State Pension will be less than £739.60 every four weeks in the 2026 to 2027 tax year.
Official Confirmation and Future Projections
Confirming the new rates at the end of last year, Secretary of State for Work and Pensions Pat McFadden said: “I am pleased to announce that the basic and new State Pensions will be increased by 4.8%, in line with the increase in average weekly earnings in the year to May-July 2025.
“This delivers on our commitment to the Triple Lock, increasing these rates in line with the highest of growth in prices, growth in earnings or 2.5%. From April, the full annual rate of the new State Pension will increase by around £575. The full annual rate of the basic State Pension will increase by around £440.”
Pensioners can determine when the DWP will issue their State Pension payment in October by checking their National Insurance number, as the last two digits correspond to the day of the week that payments are issued.
Early forecasts suggest that average earnings are again likely to drive next year’s State Pension triple lock increase, boosting current rates by 3.9%. According to figures from the Office for National Statistics (ONS), average wage growth for total earnings stood at 3.9% for the period between May and July 2026, making this higher than the 2.5% minimum floor increase.
While the inflation figure for September isn’t due to be published until October, the ONS said CPI inflation increased to 3.1% in August, compared with 2.9% in July. Economists are predicting that inflation will continue to rise over the coming months as conflict in the Middle East pushes up the cost of living, but unless it rises above 3.9%, it is likely that the average wage growth figure will be used to set next year’s State Pension rates.
Helen Morrissey, Head of Retirement Analysis at Hargreaves Lansdown, said: “According to the ONS, average wage growth stood at 3.9%. We may have just over a month to wait until the relevant inflation figure is published, but it currently stands at 2.9%, so unless there’s a real surge it seems likely that the average wage figure will be used.
“Such an increase would put someone on the full new state pension on course to receive £250.70 a week from next April – up from the current £241.30 per week. Someone on a full basic state pension would receive £192.10 a week – up from £184.90.”
