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 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 £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.
I know global shocks, and the effects they have on our living costs, will be increasing anxiety for many households.
This government will always protect our pensioners, and that’s why we are raising the full rate of new State Pension by up to £575 this coming year.
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.
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.
https://www.gov.uk/government/news/over-12-million-pensioners-to-receive-575-state-pension-boost