State Pensions will increase by up to £473 a year under the Triple Lock policy.
The annual State Pension uprating next April will be calculated using the earnings growth measure of the Triple Lock after new figures published by the Office for National Statistics on Wednesday showed the Consumer Price Index inflation rate for September was 1.7 per cent.
Similarly, someone on the full Basic State Pension will see weekly payments rise by £6.95 per week from £169.50 to £176.45, or £705.80 every four-week payment period. Annual payments will rise by £361.40 from £8,814 to £9,175.40 over the 2025/26 financial year. Former Liberal Democrat pensions minister, Sir Steve Webb, said the additional 0.1 percentage point could add around £100 million to the State Pension bill under the Triple Lock.
Latest DWP News State Pension payments 2025/26 The calculations below are based on the latest ONS figures using the 4.1 per cent earnings growth as the multiplier. It’s important to be aware these figures are based on someone in receipt of the full payment.Recent analysis released by Royal London revealed only around half of people receiving the New State Pension last year were getting the full weekly amount - and around 150,000 were on less than £100 per week.
“More than half of next year’s increase will simply be keeping pace with inflation. Taking account of inflation and the loss of Winter Fuel Payments, older pensioners who lose winter fuel payments at the £300 rate will be worse off overall.”
Benefits DWP Pensions Personal Finance Retirement UK Government
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New benefit for people over State Pension age with health issues due to launch this monthPension Age Disability Payment will replace Attendance Allowance in five council areas across Scotland from October 21.
Read more »
People on State Pension due to find out new payment rates before Autumn BudgetThe ONS is due to publish a crucial element of the State Pension Triple Lock on October 16.
Read more »
People over State Pension age £449 worse off this winter as new price cap startsAround 10 million pensioners will feel the impact of the change to Winter Fuel Payment eligibility and higher energy bills.
Read more »
State pension warning as soaring costs could lead to pension changesPensioners need proper financial support or health and social services could become overburdened, pensions experts have warned
Read more »
Full list of monthly payments only people living in Scotland can claimA new disability benefit for people over State Pension age is due to launch next month.
Read more »
People of State Pension age with arthritis could be due up to £434 each monthnearly 461,000 people are receiving either £290 or £434 every four -week pay period for arthritis.
Read more »