From Sunday, April 6, 2025, over 12 million UK pensioners will see their weekly State Pension payments increase, as new rates are introduced. The full new State Pension will rise from £221.20 to £230.25 per week, offering an annual boost of £470 for those receiving the full payment.

This increase is part of the government’s annual review, which adjusts pension rates each year on the start of the new tax year. The decision to raise these payments comes after careful consideration of inflation, wage growth, and other economic factors.

According to the government, this increase aims to provide more financial stability to pensioners amid rising living costs.

Understanding the Triple Lock MechanismThe amount by which the State Pension rises each year is governed by the ‘triple lock‘ system. This ensures that pensions increase in line with the highest of three factors: inflation (measured by the Consumer Price Index), average wage growth, or a guaranteed minimum of 2.5%.

For the 2025/26 tax year, pension rates will increase by 4.1%, reflecting the rise in average weekly earnings between May and July 2024.

The introduction of this increase aligns with the government’s commitment to protect pensioners from economic volatility, particularly in the face of inflation.

The new rates represent a tangible effort to safeguard the purchasing power of those on the State Pension, helping to ensure that pensioners’ incomes keep pace with economic shifts.

Who Will Benefit and by How Much?The rise in State Pension rates will directly benefit millions of individuals across the UK, but the increase varies depending on the type of pension received.

Those eligible for the new State Pension will see their weekly payment rise by £9.05, from £221.20 to £230.25. This brings the total annual payment for those receiving the full new pension to £11,973, an increase of £470 annually.

On the other hand, individuals on the basic State Pension will see a smaller rise. Their weekly payments will go up from £169.50 to £176.45, representing an additional £360 each year.

Those on the basic pension have fewer eligibility requirements, with the payment level set lower to reflect the more limited contribution period.