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Full new State Pension set to rise to £250.70 a week in April 2027
The planned 3.9% increase under the triple lock would add about £490 a year for people entitled to the full new rate. Pensions Secretary Pat McFadden confirmed
The full new state pension is due to rise from £241.30 to about £250.70 a week from 6 April 2027, after Pensions Secretary Pat McFadden confirmed a 3.9% increase under the triple lock.
The rise would add around £490 over a year for people receiving the full new state pension. It has been announced for next April and has not yet taken effect.
Speaking in the House of Commons, McFadden said the basic and full rates of the new state pension would both increase by 3.9%. He said the rise matched average weekly earnings growth in the year to May-July 2026.
McFadden said the full annual rate of the basic state pension would increase by about £375.
The triple lock sets an annual increase at whichever is highest of inflation, earnings growth or 2.5%. McFadden said the increase delivered the Government’s commitment to apply the mechanism throughout the current Parliament.
The new state pension was introduced in 2016. It applies to men born after 5 April 1951 and women born after 5 April 1953. The projected full weekly rate is not the amount every pensioner will receive: the increase described is for people entitled to the full new rate.
Prime Minister Andy Burnham has pledged to maintain the triple lock for the next three years.
Helen Morrissey, head of financial planning at Hargreaves Lansdown, said an increase in the state pension may not ensure an adequate retirement for everyone. She said people who have a gap between their pension provision and what they need could increase contributions when they receive a pay rise or promotion. She added that some employers might raise their contributions if workers increased theirs.
Morrissey said it was still possible to make a difference to retirement provision later in life and suggested taking stock of pension savings. She said people can usually access money in a pension from age 55, with the age set to rise to 57 in 2028.
Page details
- Section
- Welfare
- Location
- UK
- Published
- 8 November 2026, 03:46
- Updated
- 8 November 2026, 03:47
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