The UK state pension is set to rise by 4.8% in April 2026, taking the full new state pension to £12,547.60 a year, following the latest “triple lock” adjustment linked to earnings growth.
The increase, worth £574.60 annually, will lift weekly payments from £230.25 to £241.30. The boost follows data showing average wage growth of 4.8% between May and July — higher than the 3.8% consumer price inflation (CPI) figure published for September, which determines the alternative metric in the triple lock calculation.
However, the rise will also mean an estimated 200,000 more pensioners will be drawn into income tax, as the personal allowance remains frozen at £12,570, leaving little headroom before tax liability begins.
Those on the basic (old) state pension — paid to people who reached retirement age before April 2016 — will see an increase of £440.41, bringing payments to £9,614.80 a year, up from £9,175.40 (or £176.45 per week).
The Government is expected to confirm the uplift for 2026–27 at the Budget on 26 November, under Chancellor Rachel Reeves.
The triple lock, introduced in 2011, guarantees that the state pension increases each year by the highest of:
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Average earnings growth,
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September CPI inflation, or
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2.5%.
However, the policy faces growing scrutiny. Critics argue it is financially unsustainable, with the Office for Budget Responsibility (OBR) estimating it will cost £15.5 billion annually by 2030, amid a widening £50 billion gap in public finances and an ageing population.
The Institute for Fiscal Studies (IFS) has urged the Government to replace the triple lock with a wage-linked system, warning that maintaining it could eventually push the UK’s retirement age to 74 to keep the system affordable.
