Over 12 million pensioners will see their State Pension rise by up to £575 from Monday (6 April), as both the basic and new State Pensions increase by 4.8% under the Triple Lock guarantee
The Government has already delivered above-inflation taxpayer-funded increases worth up to £395 in real terms over this Parliament. By its end, pensioners’ annual incomes are expected to rise by up to £2,100 – boosting financial security for millions.
Pension Credit will also rise by 4.8% and be worth an average of £4,300 a year, unlocking further support including help with housing costs, council tax and free television licenses.
Between 2026 and 2027, the government will provide a taxpayer funded £6 billion boost to spending on State Pensions and pensioner benefits.
The increases come into effect as the government takes wider action to ease pressure on household finances, including raising the National Living Wage, cutting an average of £150 from household energy bills, lifting the two child limit and freezing rail fares and prescription charges.
Work and Pensions Secretary Pat McFadden said:
Minister for Pensions Torsten Bell said:
In addition to the range of action being taken by government to support families, most working-age benefits, and other benefits for people below State Pension age, will also increase by 3.8% helping millions of households.
This comes alongside action the Government is taking to incentivise work and tackle ill-health, including boosting the standard rate of Universal Credit by 6.2% - the first ever permanent, above-inflation increase – and tackling perverse incentives by introducing a lower Universal Credit health element rate of £217.26 per month for new claimants, compared to the higher rate of £429.80.
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