Full state pension to rise by £9.40 a week to around £250.70 from April 2027 under the triple lock

The full new State Pension will rise by £9.40 a week to around £250.70 from April 2027 under the triple lock, This is Money reported on 21 October 2026¹. On an annual basis the payment climbs by £489, from £12,547 to £13,036¹. The triple lock sets the annual increase at the highest of 2.5 per cent, inflation or average earnings growth, and earnings growth of 3.9 per cent was the highest of the three this time¹.

The figure was confirmed after the Office for National Statistics reported that the Consumer Prices Index stood at 3.5 per cent in September, up from 3.1 per cent in August and above economists' expectations of 3.4 per cent². Core CPI rose to 2.8 per cent from 2.6 per cent, and services inflation from 3.4 per cent to 3.7 per cent². The ONS said higher fuel prices were the main driver, with the average price of petrol at 169.5p a litre in September, up 8.2p on August².

Source: This is Money¹

People who retired before spring 2016 on the old basic State Pension should see a £7.20 a week rise to £192.10, or around £10,000 a year¹. Additional State Pension elements, known as S2P or Serps, rise in line with the 3.5 per cent inflation figure¹. The mechanics of the annual uprating of benefits and how inflation sets increases are set out in our guides.

Why it matters for households

The new annual payout of £13,036.40 exceeds the personal income tax allowance of £12,570 by just under £467, which at the basic rate could mean just over £93 owed to HMRC, according to the report¹. Unless the headline State Pension is a person's sole income, some of it will be clawed back in income tax from next year as it passes the basic rate threshold¹. The Government says it is committed to letting pensioners off paying income tax if their "only income is the full new or basic state pension without any increments", but details are still pending¹.

The rise applies from April 2027 to anyone receiving the full new State Pension, which requires 35 qualifying years on a National Insurance record; those with fewer years receive a proportionately smaller amount under the new State Pension rules. The old basic State Pension rise applies to those who reached State Pension age before spring 2016¹.

What happens next

Prime Minister Andy Burnham has announced plans to replace the triple lock with a double lock linked to inflation, saying that from April 2030 the State Pension would rise each year by the highest of price rises or 2.5 per cent¹. He said the change would create "significant savings" to fund a new National Care Service, but the plans depend on Labour or another party favouring the policy winning the next election¹.

The report also says a decision on bringing forward the rise in State Pension age from 67 to 68 is outstanding, and that at least 10 years' notice is conventional¹.