State pension to rise by £500 a year from April 2027

Summarised from 3 outlets · Updated 21 Oct, 10:02 · Archive

The full state pension is projected to reach £250.70 a week from April 2027, a 3.9 per cent increase.

The full new state pension could rise from £241.30 to £250.70 a week from April 2027 if the Government maintains its Triple Lock commitment, taking the annual payout to £13,036.40.

September CPI figures released on 21 October showed inflation at 3.5 per cent. This is lower than Office for National Statistics average earnings growth, which means the third element of the Triple Lock has fallen into place, allowing pensioners to see a rise of 3.9 per cent.

Under the Triple Lock system, the state pension increases each April in line with whichever of three measures is the highest: inflation, average earnings growth, or 2.5 per cent. Prime Minister Andy Burnham previously said the Labour government would keep the Triple Lock until the end of the current Parliament.

The 3.9 per cent increase will also affect the old basic state pension for those who reached state pension age before April 2016, which will rise to about £192.10 a week, or £9,989.20 a year.

State pension to rise by £500 a year from April 2027 — Image: Andover Advertiser

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How it is being reported

State pension tipped to increase by nearly £500 a year as weekly payments reach £250The full new state pension could rise from £241.30 to £250.70 a week from April 2027, taking the annual payout to £13,036.40.Andover Advertiser · 21 Oct, 09:46
State pension tipped to increase by nearly £500 a year as weekly payments reach £250The full new state pension could rise from £241.30 to £250.70 a week from April 2027, taking the annual payout to £13,036.40.Basingstoke Gazette · 21 Oct, 09:46
State pension tipped to increase by nearly £500 a year as weekly payments reach £250The full new state pension could rise from £241.30 to £250.70 a week from April 2027, taking the annual payout to £13,036.40.Romsey Advertiser · 21 Oct, 09:46

In this story: Andy Burnham · Labour · Evelyn Partners · Office for National Statistics

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