The state pension will rise by more than £550 a year from April under the triple lock, the government has said. Under the triple lock policy, the state pension increases by whichever is highest out of inflation, wage growth and 2.5%. Wage growth was the highest of the three figures at 4.8%.

The Treasury has confirmed it will increase the state pension by 4.8 per cent for 2026/27 under the earnings trigger of the triple lock mechanism.

Popular triple lock guarantee means the state pension is increased by the highest of inflation , average earnings growth or 2.5%.

THE Chancellor is due to announce a bumper state pension increase in her Budget next week. The Treasury has said up to 13million pensioners will see their state pension increase faster than

The Chancellor has confirmed that many pensioners will not have to pay income tax - but experts warn the Government doesn't know how to make the policy work

A BBC expert has revealed that Chancellor Rachel Reeves is set to announce a higher-than-inflation increase for 13 million pensioners in her forthcoming budget. Those on the full rate of the new state pension will see an increase of more than £550 a year, according to figures reportedly confirmed by the Government overnight.

A person typically needs 35 years of full NI contributions to get the full new amount or 30 years' worth to get the full basic amount. Calculations by NimbleFins showed that state pensioners would potentially be £1,865 a year less if the triple lock had not boosted their pay.

Chancellor Rachel Reeves confirmed that the 4.8% figure is the amount that State Pensions will be increased by in April at her Budget on Wednesday. The Government also confirmed it is committed to maintaining the Triple Lock for the duration of this Parliament to support the incomes of over 12 million pensioners.

The UK government has noted that millions of elderly Brits can expect an increase in the amount they receive as part of the State Pension in 2026.