Older state pensioners will get a cash boost of £8.45 extra per week in May following a triple lock change last month.
The start of the new tax year on April 6 ushers in a wealth of benefits and pension changes, including uplifts to payment rates for the year ahead. The State Pension is no exception and thanks to the government's commitment to the triple lock, payment rates have gone up by 4.8% as of April 6, in line with average wage growth between May and July last year. But as the UK's State Pension system is split into two schemes - basic and new - the amount extra that pensioners receive in the current tax year depends on your age.
Men born before April 6, 1951, and women born before April 6, 1953, receive the basic State Pension and following the 4.8% rise under the triple lock on April 6, the full rate is now worth £184.90 per week, up from £176.45 previously.
The increase means older basic State Pension claimants who are eligible for the full amount will receive £8.45 extra per week in the 2026/27 tax year.
- State pensioners get £114.60 per week in May with these conditions
- HMRC sending May deadline letters for £1,406 benefit or 'payments will stop'
Over a full year this amounts to a maximum of £9,614.80 in pension payments (up from £9.175.40), giving those who qualify for the rate an extra £439.40 annually.
As the new tax year began on April 6, some pensioners won't fully benefit from a full month on the 4.8% uplift until May. For example, if your pension was paid between April 1 and April 6, you won't have received the new higher rate, but every pension payment in May will be at the new amounts.
But of course whether you get the maximum amount in May will depend on your National Insurance record. To get the full £184.90 per week, a man born between 1945 and 1951 usually requires 30 qualifying National Insurance years, while men born before 1945 require 44 qualifying years.
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 £184.90 per week from April.
As for those on the new State Pension, the weekly rate has now increased from £230.25 to £241.30 as of April 6, giving pensioners a weekly increase of £11.05, or an extra £575 annually if you get the full rate.
The figures are based on the maximum possible amount for those with a full qualifying National Insurance record, so those without enough qualifying years will receive less.
According to the DWP, the government has already delivered above-inflation increases worth up to £395 in real terms over this Parliament and by its end, pensioners' annual incomes are expected to rise by up to £2,100.
Commenting on the State Pension increase in April, Minister for Pensions Torsten Bell said: "After a lifetime of work and contribution, people deserve a decent retirement.
"Raising the State Pensions faster than prices, ensuring it is a pension they can rely on, is how we make that a reality for millions."
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