Millions of state pensioners are receiving higher payments from the Department for Work and Pensions (DWP) after the latest triple lock increase came into effect in April.
The annual uplift means pensioners with a full National Insurance record will receive an additional £439.40 over the course of the 2026/27 tax year.
An increase was triggered after average earnings growth reached 4.8 per cent, exceeding both inflation and the 2.5 per cent minimum increase guaranteed under the triple lock system.
The higher payments will continue throughout the current tax year until the next annual review takes effect in April 2027.
Under the updated rates, pensioners who reached state pension age before April 2016 and receive the basic state pension now receive around £184.90 per week.
That figure has increased from the previous weekly rate of £176.45.
Those who reached state pension age from April 2016 onwards and qualify for the new state pension now receive £241.30 per week.
The new state pension previously stood at £230.25 weekly before the increase took effect.
The rise works out at roughly £37 extra per month for pensioners receiving the full new state pension entitlement
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Both the full basic state pension and the full new state pension remain below the £12,570 Personal Allowance threshold.
That means pensioners with no additional income do not pay income tax on their state pension alone.
However, pensioners who have gaps in their National Insurance contribution records may receive lower amounts depending on their individual entitlement calculations.
The DWP assesses entitlement levels based on each claimant’s contribution history.
How the state pension triple lock has changed over the years
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Pensioners on lower incomes may also qualify for Pension Credit, which can provide additional financial support on top of the state pension.
Those receiving the full basic state pension of £184.90 per week could potentially see their income topped up to £238 weekly through Pension Credit support.
Eligibility for Pension Credit depends on a claimant’s overall financial circumstances.
The DWP takes into account earnings, savings interest, property income and private pension payments when assessing entitlement.
People whose income exceeds the relevant thresholds may receive reduced support or may not qualify.
Labour has repeatedly encouraged pensioners to check whether they are eligible for Pension Credit because it remains one of the most underclaimed benefits in the UK.
Applications can be made online or through the Pension Credit claim line on 0800 99 1234.
Kirsty Ross, proposition director at People’s Partnership, said the state pension continued to form a crucial part of retirement income planning for millions of people.
Ms Ross said: “The value of the state pension is essential information for millions of people, including those still in work, as it forms the foundation of retirement income for most savers.
“For those thinking about retirement, it’s also crucial to understand the age at which they can start claiming the state pension.
“For example, people hoping to retire early will need to plan how they will bridge the gap until their state pension kicks in.”
The DWP pays state pensions every four weeks rather than monthly, meaning payment dates can vary throughout the year.